Obama Wants SEC to Do Better Job Examining Hedge Funds

Obama’s SEC budget targets hedge funds- President wants more money for SEC so it can do better job examining hedge funds.

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The request comes after many hedge fund managers were required to come under SEC oversight, stemming from 2011 rule that require advisers to hedge funds and other private funds to register with the SEC, establish new exemptions from SEC registration and reporting requirements for certain advisers, and reallocate regulatory responsibility for advisers between the SEC and states.
The rules adopted by the Commission implement core provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act regarding investment advisers, including those that advise hedge funds.

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