SEC Begins Big Dig Into Hedge Fund Data

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SEC Begins Big Dig Into Hedge Fund Data

By JULIET CHUNG

The top U.S. securities regulator has started to sift through a trove of new data on the nation's largest hedge funds and other private money managers to help identify firms whose behavior might pose the greatest risks to their investors.

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About 1,400 new firms, including Moore Capital Management and Tiger Global Management, disclosed new details on their funds, investors, brokers and other facts ahead of a March 30 deadline.

The Dodd-Frank financial overhaul included a provision requiring hedge-fund, private-equity and other private-fund advisers of a certain size to register with the SEC, in a bid to bring more transparency to one of the more secretive corners of Wall Street. The SEC is using the new disclosures to beef up the data it streams through its analytics to look for signs of trouble.

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While many of the most high-profile hedge-fund advisers have long registered voluntarily with the SEC, in part to attract money from institutional investors, others historically had relied on an exemption for advisers with fewer than 15 clients, or funds. Dodd-Frank did away with the 15-client exemption.

http://online.wsj.com/article/SB10001424052702304587704577335821710184722.html?mod=googlenews_wsj

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