SEC Proposes Systemic-Risk Reporting for Private-Fund Advisers
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The U.S. Securities and Exchange Commission proposed requiring investment advisers to private funds to maintain and report information on those funds that will be used in broader efforts to monitor systemic risk.
SEC commissioners voted 5-0 at a meeting in Washington today to seek public comment on the measure mandated by the Dodd-Frank Act. The proposal, which would require quarterly reporting by firms managing more than $1 billion in assets, would call on advisers to maintain information on fund assets, leverage, investment positions, valuation and trading practices.