U.S. bill introduced to regulate hedge fund advisers

Published: 16 Jun 2009 17:46:51 PST

WASHINGTON, June 16 - A bill was introduced in the U.S. Senate on Tuesday that would require advisers of hedge funds, private equity, venture capital funds and other private investment pools to register with the Securities and Exchange Commission.

The bill, introduced by Senator Jack Reed, chairman of the banking subcommittee on securities, would require advisers that manage more than $30 million in assets to register with the SEC. Smaller funds would be supervised by states.