Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Atkins Questions Hedge Fund Registration Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, September 30, 2005

Atkins Questions Hedge Fund Registration

by: Sean Hanna, Editor in Chief

New rules that require hedge funds to register with the SEC risk sapping the SEC's ability to monitor the fund industry, one of the five commishes said Thursday. Commissioner Paul Atkins used a speaking slot at the Managed Funds Association meeting to warn that the rule risk stretching the Commissions resources too thin to properly watch the fund industry.

"Just as some of you are working hard to prepare to deal with us, we at the SEC are struggling to get ready to deal with you," Atkins told the hedge fund executives at the conference. "We have neither the resources nor the expertise to oversee all of the potential new registrants."

He also worried that the SEC will not be able to watch the fund industry as closely if its staff must also examine hedge funds. Currently, Atkins said there are some 500 SEC examination staffers who monitor 8,000 mutual funds and 8,000 registered investment advisers. Adding hedge funds will put another 1,260 advisers on the SEC's plate, he added.

Atkins, one of the two Republican commissioners, had opposed the rules along with Cynthia Glassman when they were first opposed. The rules were approved when then-SEC Chairman William Donaldson sided with the Commission's two Democrats.

Some had hoped that newly seated chairman Christopher Cox, also a Republican, would suspend the rule that is required to take affect on February 1. However, Cox recently made public statements in support of the rule.

Atkins also made remarks in support of Cox.

"Chairman Cox comes to the job as an insightful, engaged, enthusiastic leader. I anticipate that we will see a renewed, receptive attitude to the benefits of an economic, cost-benefit analytical approach to regulation overall," Atkins told the MFA. "As a consequence, I hope that we will see a reasoned approach towards the implementation of the hedge-fund rule."  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use