The House Financial Services Committee passed H.R. 3818, the Private Fund Investment Advisers Registration Act, introduced by Congressman Paul E. Kanjorski (D-PA), Chairman of the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises. The Committee passed H.R. 3818 by a vote of 67-1.
The press release summarizes the bill as “Everyone Registers. Sunlight is the best disinfectant.” But the text of the bill appears to still have an exclusion from registration for venture capital firms.
References:
- Press Release – Committee Approves Private Advisor Registration Bill with Bipartisan Support
- Text of Private Fund Investment Advisers Registration Act
- Private Fund Investment Advisers Registration Act of 2009 – Prior post
- More on the Private Fund Investment Advisers Registration Act of 2009 – Prior post
- Capital Markets Regulatory Reform: Enhancing Oversight of Private Pools of Capital – Prior post
[…] An important piece is the Senate proposal relating to hedge fund registration Title IV: Regulation of Advisers to Hedge Funds and Others, also called the Private Fund Investment Advisers Registration Act of 2009. This is the Senate counter-proposal to the House version passed by the House Financial Services Committee at the end of October: Private Fund Investment Advisers Registration Act is Passed by House Committee. […]