Regulator targets hedge funds and private equity as industry assets reach $25tn
email rounding up the latestHedge funds and private equity firms would be forced to disclose more about potentially risky events to the US Securities and Exchange Commission under a rule set for approval on Wednesday, one of several measures aimed at an industry under intensified regulatory scrutiny.will vote on whether to enact requirements for private fund managers to share additional information about events that may signal stress or systemic risk.
He highlighted the rapid growth of the private fund industry, whose gross assets are collectively valued at up to $25tn, larger than the total assets of US commercial banks at $23tn. The industry was “ever more interconnected with our broader capital markets”, Gensler said.more visibility on how bets by hedge funds
If adopted, the disclosure rule would change a form that certain funds file with the SEC, to force hedge funds with at least $1.5bn in assets under management and private equity firms to report “trigger events”. These disclosures would have to be made within 72 hours of such an event for the former and quarterly for the latter.
The measure under consideration on Wednesday would also force private equity firms with at least $2bn in assets to provide more information in their annual reports, including on fund strategies. The SEC raised the reporting threshold to $2bn from the $1.5bn initially proposed.
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