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Opalesque Exclusive: Commissioner Atkins: Seven lessons the SEC has learned from the registration `mess`, expects progress with new products like registered hedge FoFs for retail investors Matthias Knab reports “live” from the 9th SRI Annual Alternative Investment Roundup in Scottsdale. At a key note speech, SEC Commissioner Atkins represented some of his own views regarding hedge fund registration and other current issues relevant to our industry. Commissioner Atkins mentioned to me his staff would put the speech text on the SEC website, and when I called his Washington office his assistant said she’ll do it on the same evening – and she delivered (efficient and quick)! Thus, I can reproduce the full and accurate speech text (rather than my notes), together with further interesting information which came up during the Q+A session.

From the speech text (all accentuation by Opalesque): “....As you all know, the SEC embraced the registration recommendation by a 3-2 vote over my joint dissent with former Commissioner Cynthia Glassman. The SEC rule was puzzling to our colleagues across the government who had worked with us on the issue of hedge funds in the past. Former Federal Reserve Chairman Alan Greenspan explained bluntly that "the initiative cannot accomplish what it seeks to accomplish." Former Treasury Under Secretary Randy Quarles subsequently told the Senate Banking Committee that the Treasury had to "work with the SEC, both bilaterally and through the P......................

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