The Securities and Exchange Commission (SEC) is seeking to extend the deadline for private equity and hedge fund firms to register with the commission, The Wall Street Journal reports. The SEC expects to give investment advisers a six-month grace period. As per the Dodd-Frank Act, firms with at least $150 million in assets or with 15 or more clients in the U.S. need to register with the SEC by July 21. The registration of managers was proposed to allow better regulatory oversight of firms and allow regulators a better measure of firms’ potential risks to the financial system.
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