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S 1402 110th Congress Senate Finance and Financial Sector Investment advisers Securities regulation

Hedge Fund Registration Act of 2007

Introduced: May 15, 2007 Introduced by: Grassley, Chuck Republican · Iowa See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 15, 2007
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
May 15, 2007
Sponsor introductory remarks on measure. (CR S6141-6142)
May 15, 2007
Introduced in Senate
 Plain-English summary Congressional Research Service

Hedge Fund Registration Act of 2007 - Amends the Investment Advisers Act of 1940 with respect to the exemption from registration requirements of an investment adviser who: (1) during the preceding 12 months has had fewer than 15 clients; (2) does not hold himself out generally to the public as an investment adviser; and (3) does not act as one to any registered investment company or a company which has elected to be a business development company.

Revises such exemption to specify, in addition to these criteria, that during the preceding 12-month period the investment adviser: (1) had assets under management of not more than $50 million; and (2) did not manage the assets of more than 15 investors, whether individually, in a pooled investment vehicle, or otherwise.

What's happening now May 15, 2007

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Committees of jurisdiction 1