SEC Seeks More Disclosures From Private-Equity and Hedge Funds
Federal regulators proposed measures that would significantly increase their visibility into private-equity funds and some hedge funds, the first in a range of plans to expand oversight of private markets.
The Securities and Exchange Commission voted 3-1 to issue a proposal Wednesday that would increase the amount and timeliness of confidential information that private-equity and hedge funds report to the agency on a document known as Form PF. The main goal, Chairman Gary Gensler, is to allow regulators to better spot risks building up in private markets, stepping up an effort that began after the 2008 financial crisis.
The commission, in a meeting Wednesday, also voted 3-1 to propose expanding oversight of some trading platforms that match buyers and sellers of U.S. Treasury securities. The agency will seek comment on the proposals before completing the rules, a process that could take several months at least.