The U.S. Securities and Exchange Commission (SEC) is asking hedge-fund advisers for information about relationships their investors and employees have with public companies, The Wall Street Journal reported on Wednesday.
Since May, the SEC, which strengthened its scrutiny of hedge funds and insider trading, has sent about two dozen letters to registered hedge-fund advisers asking for new information as part of its routine examinations, said the report.
It has sought lists of public companies where funds' employees, relatives, investors or clients serve as officers or directors, the report added.
The new questions are part of that review process and come amid a broader increase in focus on hedge funds. It is likely some funds will push back on the amount of new information the SEC is requesting as being overly burdensome,according to the report.
More than a year ago, the SEC established a hedge-fund working group in its enforcement division to look specifically at insider trading.
Source: Xinhua
|
Comment
Tell A Friend
Print Format
Save Article