SEC Proposes New Hedge Fund Rules

In an effort to implement provisions of the Dodd-Frank Act, the Securities and Exchange Commission has proposed new registration rules for hedge funds and other private funds. The New York Times reports that registration requirements won’t apply to hedge funds and venture capital funds managing under $150 million, although those firms will have to complete some paperwork and their books will be subject to SEC inspection. The SEC is accepting public comment for 45 days, after which time the Commission will hold a final vote.