{"id":4399,"date":"2023-05-05T02:04:43","date_gmt":"2023-05-05T06:04:43","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/u-s-regulator-cuts-digital-assets-out-of-hedge-fund-rule\/"},"modified":"2023-05-05T02:04:44","modified_gmt":"2023-05-05T06:04:44","slug":"u-s-regulator-cuts-digital-assets-out-of-hedge-fund-rule","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=4399","title":{"rendered":"U.S. Regulator Cuts Digital Assets Out of Hedge Fund Rule"},"content":{"rendered":"
\n

The Securities and Exchange Commission has decided to leave digital assets out of a new rule requiring more information from hedge fund and private equity advisers.\u00a0<\/p>\n

The agency voted to adopt new changes to private fund reporting, specifically to Form PF \u2014 a reporting form for registered investment advisers to private funds.\u00a0<\/p>\n

Those changes include requiring disclosures of events that \u201ccould indicate significant stress,\u201d such as \u201cextraordinary investment losses.”<\/p>\n

But the SEC decided to leave digital assets out of it.<\/p>\n

In a footnote to the final rule, the agency said it had proposed adding digital assets to a \u201cForm PF Glossary of Terms.\u201d<\/p>\n

\u201cThe Commission and staff are continuing to consider this term and are not adopting \u2018digital assets\u2019 as part of this rule at this time,\u201d the agency said in that footnote.<\/p>\n

What does the rule do<\/h2>\n

The final hedge fund rule, which was adopted on Wednesday, would require for the first time that those large hedge fund and private equity advisers report more timely on certain events that \u00a0\u201cmay indicate significant stress or otherwise signal for systemic risk and investor harm,\u201d SEC Chair Gary Gensler said in a statement.\u00a0<\/p>\n

The new rule also requires advisers to report more information in their annual reports about the firms\u2019 strategies, use of leverage, among others.<\/p>\n

Private funds have nearly tripled in size in the last decade, Gensler said.\u00a0<\/p>\n

\u201cToday, private funds managed by registered investment advisers hold approximately $21 trillion of gross assets, including $20 trillion reported on Form PF\u2014nearly the size of the $23 trillion U.S. commercial banking sector,\u201d Gensler said.\u00a0<\/p>\n

The changes will help protect investors, promote financial stability and add visibility into private funds, Gensler said.<\/p>\n

Republican Commissioner Hester Peirce opposed the changes, arguing that the agency did not explain \u201csufficiently\u201d why the information was needed.\u00a0<\/p>\n

\u201cThe additional information may tempt regulators to intervene in markets in ways that would undermine long-term market resilience and exceed jurisdictional bounds. Accordingly, I cannot support the rule,\u201d Peirce said in a statement on Wednesday.\u00a0<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Securities and Exchange Commission has decided to leave digital assets out of a new rule requiring more information from hedge fund and private equity advisers.\u00a0 The agency voted to adopt new changes to private fund reporting, specifically to Form PF \u2014 a reporting form for registered investment advisers to private funds.\u00a0 Those changes include […]<\/p>\n","protected":false},"author":1,"featured_media":4400,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-4399","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nU.S. Regulator Cuts Digital Assets Out of Hedge Fund Rule | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The Securities and Exchange Commission has decided to leave digital assets out of a new rule requiring more information from hedge fund and 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