SEC to vote Wednesday on faster reporting of ‘trigger events’
Separate item would boost investor insight into share buybacks
Large hedge funds will have just three days to privately tell US regulators about extraordinary investment losses and major margin events under a new rule from the Securities and Exchange Commission.
The regulation, which a majority of the SEC’s five commissioners adopted on Wednesday, significantly ramps up oversight of the biggest hedge funds. Rather than quarterly snapshots, watchdogs would for the first time get an almost real-time look at major events at managers that oversee at least $1.5 billion in assets. Private equity firms will also face new reporting requirements.
The changes are part of a push by the …
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