Obama Administration, US Lawmakers Continue to Push for Private Fund Adviser Registration

August 12, 2009
As part of an ongoing effort to bring private funds and their managers under closer regulatory scrutiny, the Obama administration recently presented far-reaching recommendations to overhaul the U.S. financial regulatory system. Two bills generally consistent with these recommendations have been introduced to the U.S. Congress. This update examines the Obama administration’s recommendations and the related legislation, which would significantly expand the number of investment advisers required to register with the U.S. Securities and Exchange Commission, including non-U.S. investment advisers.