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Hedge Funds: Should They Be Regulated?

In view of the growing impact of hedge funds on a variety of financial markets, the Securities and Exchange Commission (SEC) in October 2004 adopted a regulation that requires hedge funds to register as investment advisers, disclose basic information about their operations, and open their books for inspection. The regulation took effect in February 2006, but on June 23, 2006, a court challenge was upheld and the rule was vacated. S. 1402 and H.R. 2586 would reinstate the SEC's authority. H.R. 2… more

Date: July 2, 2007

Creator: Jickling, Mark

Item Type: Report

Partner: UNT Libraries Government Documents Department

open access

Investment Advisers: Requirements and Costs Associated with the Custody Rule

A letter report issued by the Government Accountability Office with an abstract that begins "Designed to safeguard client assets, the Securities and Exchange Commission's(SEC) rule governing advisers' custody of client assets (custody rule) imposes various requirements and, in turn, costs on investment advisers. To protect investors, the rule requires advisers that have custody to (1) use qualified custodians (e.g., banks or broker-dealers) to hold client assets and (2) have a reasonable basis … more

Date: July 8, 2013

Creator: United States. Government Accountability Office.