U.S. SEC chair Gensler seeks to scrutinize private fund fee arrangements, side letter provisions

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FILE PHOTO: US Securities and Exchange Commission (SEC) Chairman Gary Gensler testifies before the Senate Banking, Housing and Urban Affairs Committee at the SEC hearing on Capitol Hill in Washington, US, September 14, 2021. REUTERS/Evelyn Hawkstein/Pool /File photo
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WASHINGTON (Businesshala) – The chairman of the US Securities and Exchange Commission said on Tuesday that the agency would consider new rules that examine private funds fee arrangements, side letter provisions.

Gary Gensler said in a keynote address to members of the Institutional Limited Partners Association that the agency’s rules will aim to reduce conflicts of interest between the fund’s general partners, affiliates and investors.

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Gensler also said that he has sought recommendations from staff to increase hedge fund reporting and disclosure through the agency’s Form Private Fund (Form PF), to help shed light on the activities of private fund advisors to regulators. necessary for.

Reporting by Katanga Johnson in Washington, Editing by Nick Ziminsky

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