Hedge funds are about to become far more transparent.

|

Under provisions of the Dodd-Frank law that will take effect in July, virtually all hedge funds will be required to file with the SEC (and publicly disclose) new Form ADV Section 7.B data.

|

The requirement applies to:

  1. hedge fund-only advisers with assets under management (AUM) exceeding $150 million, who must register with the SEC;
  2. hedge fund/separate account advisers with AUM exceeding $100 million, who must register with the SEC; and
  3. smaller hedge fund advisers, who must supply Section 7.B data as "Exempt Reporting Advisers."

The required public data includes the gross and net asset values of the hedge funds managed and the identities of any sub-advisers. In addition, most funds will be required to disclose five gatekeepers: their auditor, custodian, prime broker, administrator and marketer.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.