SEC Proposes More Onerous Custody Rules For Hedge Fund Managers
Hedge Funds to be Subject to “Surprise Exams”
In addition to the likelihood of hedge fund registration, the SEC is now proposing to have “gatekeepers” to make sure that investment advisors are not engaged in any fraudulent behavior. When and if such a requirement is adopted, it will further burden investment advisors with more paperwork. “Surprise [...]