The Securities and Exchange Commission is planning rules that will require investment advisers to private funds to maintain and report information, Bloomberg reports. The proposal, which will require quarterly reporting by firms managing over $1 billion in assets, will ask advisers to maintain information on fund assets, leverage, investment positions, valuation and trading practices.
Information collected by the SEC will be shared with the Financial Stability Oversight Council, the panel of regulators created by Dodd-Frank to monitor systemic threats. About 200 U.S. hedge fund advisers, who oversee nearly 80% of assets under management, will be affected by the increased reporting rules.
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