The House Financial Services Committee has taken the first official steps toward actual financial regulatory reform. The Committee approved three bills that will be moved to the full House for vote in early December. The bills are:
- Private Fund Investment Advisers Registration Act of 2009
- Investor Protection Act of 2009
- The Accountability and Transparency in Rating Agencies Act
The legislative weight of the above bills includes registration and recordkeeping requirements for hedge funds, fiduciary standards for brokers, new restrictions on rating agencies, and enhanced enforcement powers for the SEC, including the ability to pay informants.
FrontLine Compliance will continue to keep you informed of the status of these bills and any other legislative measures introduced by Congress that may affect your business.
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FrontLine Compliance, LLC is a regulatory compliance consulting firm of former high-level regulatory insiders offering customized services to broker-dealers, investment advisers, investment companies, hedge funds, and insurance company affiliates. Staffed by former SEC and FINRA regulators, and chief compliance officers, FrontLine Compliance provides the kind of industry knowledge, experience and expertise on regulatory issues only available from well-seasoned insiders. For more information about the firm, please visit www.frontlinecompliance.com.
FrontLine Compliance, LLC
phone: 888-518-8070
email: info@frontlinecompliance.com
www.frontlinecompliance.com
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