In an interview aired on Bloomberg Television’s “Political Capital with Al Hunt,” Securities and Exchange Commission Chairman Mary Schapiro stated that it is “probably not enough just to register hedge funds,” and that the SEC needed the authority to “inspect [hedge funds], look at their books and records, understand how they are doing business, and perhaps prescribe some other requirements for how they operate.” While not currently recommending restrictions on borrowing or investing or requiring disclosure of short positions, she left open the possibility of considering these types of regulations by utilizing SEC rule-making authority as “situations evolve.” Chairman Schapiro’s views coincide with her statement that the SEC is reorienting itself towards an “investor-protection set of initiatives.”
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SEC chairman calls for authority over hedge funds beyond registration
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