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Komfie Manalo, Opalesque Asia: The U.S. Securities and Exchange Commission (SEC) is proposing rules which would require fund managers to disclose a list of their social media accounts on their Form ADV filings.
Last month, the SEC approved proposed changes to Form ADV, that will would require more frequent reporting, as well as a closer look into social media, liquid alternative strategies, and branch offices.
What the SEC is doing is drafting new rules aimed at monitoring the social media use of hedge funds, registered investment advisors (RIAs) and private equity firms, reports Value Walk.
According to the report, the SEC wants to ensure that hedge funds and RIAs are still transparent in the use of the social media and will now require them to disclose details about their business social media accounts and how they use them. The proposed rule also includes employees of RIAs and hedge funds to disclose their social media accounts as well.
Currently, the SEC The regulator is asking the affected industries to provide their input on this proposed new regulation as well as suggestion on how they plan monitor their employees’ usage of social media platforms.
Increased interested in social media
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