Sat, Apr 29, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Hedge Fund Association submits comment letter to the SEC calling for clearer rules for vetting investors

Thursday, June 07, 2012

Bailey McCann, Opalesque New York: In a comment letter submitted to the Securities and Exchange Commission (SEC) today, the Hedge Fund Association reiterated its support for provisions of the Jumpstart Our Business Startups (JOBS) Act that will let hedge funds solicit potential investors. The letter also called for clearer rules to verify that potential investors are indeed accredited as a way to "add further stability to the industry."

Under new JOBS Act rules, hedge funds would still be restricted to selling their securities to accredited investors such as individuals with a minimum $1 million net worth and qualified institutional investors however, they would be able to communicate more directly with these investors than they have in the past. Richard Heller, chairman of the HFA’s Regulatory and Government Advisory Board, wrote the letter for the HFA, and sought to assuage concerns that the new rules might weaken existing anti-fraud rules.

"Providing rules to strengthen a manager's decision to accept a subscriber's investment by following the rules to be drafted by the SEC that will for the first time provide a road map for managers to rely upon will, we believe, add further levels of compliance that the Dodd-Frank Act initiated," the letter said.

The SEC is expected to release formal rules and guidance about what they deem as acceptable solicitation on July 5 of this ye......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: Ex-Man manager combines sustainable investing with AI/ML[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Dr. Richard Bateson, quant fund manager and physicist, has recently

  2. Gondor Capital sees challenges ahead for financial markets as two hedge funds post strong gains in Q1[more]

    Komfie Manalo, Opalesque Asia: Vincent Au, portfolio manager of New York-based hedge fund firm Gondor Capital Management believes that the remaining of the year would be challenging for the financial markets even as his two hedge funds maintain

  3. Service Providers - Colemore launches fee tracking service for limited partners[more]

    Following Colmore's successful launch in January 2017, the firm has announced the launch of FAIR.. FAIR is designed to help private equity investors independently validate fees and incentives charged by underlying managers, saving time and providing an extra level of comfort. There is a glob

  4. Regulatory - 'Fist bumps' at hedge funds over Trump's tax plan[more]

    From Reuters.com: U.S. hedge fund managers began warming to President Donald Trump soon after his surprise election ignited a powerful stock market rally. Now, his dramatic tax cut plans give them even more reasons to cheer. Trump, looking to make good on pledges for sweeping tax reform, on Wednesda

  5. Investing - Some of the world's biggest hedge funds think private equity stocks are cheap, International stock funds attract $1.8 billion post-French election, ValueAct unveils interest in KKR as firm shows earnings beat[more]

    Some of the world's biggest hedge funds think private equity stocks are cheap From Forbes.com: As institutional investors pile into new mega-sized private equity funds, allowing firms like Apollo, Blackstone, Carlyle and KKR to raise record amounts of cash, much of this gush of money has