S.1276 - Private Fund Transparency Act of 2009

A bill to require investment advisers to private funds, including hedge funds, private equity funds, venture capital funds, and others to register with the Securities and Exchange Commission, and for other purposes. view all titles (3)

All Bill Titles

  • Official: A bill to require investment advisers to private funds, including hedge funds, private equity funds, venture capital funds, and others to register with the Securities and Exchange Commission, and for other purposes. as introduced.
  • Popular: Private Fund Transparency Act of 2009 as introduced.
  • Short: Private Fund Transparency Act of 2009 as introduced.

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Introduced
 
Senate
Passes
 
House
Passes
 
President
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06/16/09
 
 
 
 
 
 
 

Official Summary

Private Fund Transparency Act of 2009 - Amends the Investment Advisers Act of 1940 to: (1) repeal the exemption from its registration requirements for private investment advisers; and (2) continue to exempt from such requirements only foreign private advisers. Authorizes the Securities and

Official Summary

Private Fund Transparency Act of 2009 - Amends the Investment Advisers Act of 1940 to:
(1) repeal the exemption from its registration requirements for private investment advisers; and
(2) continue to exempt from such requirements only foreign private advisers. Authorizes the Securities and Exchange Commission (SEC) to require any registered investment adviser to maintain and submit records for federal supervision of systemic risk. Shields the SEC from any compulsion to disclose any supervisory report or information that is required to be filed with the SEC. Repeals the general disclaimer that no provision of the Act shall be construed to require, or to authorize the SEC to require any investment adviser engaged in rendering investment supervisory services to disclose the identity, investments, or affairs of any of its clients. Empowers the SEC to ascribe different meanings to terms (including the term \"client\") used in different sections of the Act.

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