S. 1276 (111th): Private Fund Transparency Act of 2009

Introduced:
Jun 16, 2009 (111th Congress, 2009–2010)
Sponsor:
Sen. John “Jack” Reed [D-RI]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was introduced on June 16, 2009, in a previous session of Congress, but was not enacted.

Progress
Introduced Jun 16, 2009
Referred to Committee Jun 16, 2009
Cosponsors
none
Committees

Senate Banking, Housing, and Urban Affairs

The committee chair determines whether a bill will move past the committee stage.

Full Title

A bill to require investment advisers to private funds, including hedge funds, private equity funds, venture capital funds, and others to register with the Securities and Exchange Commission, and for other purposes.

Summary

No summaries available.

Text

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Last updated Jun 16, 2009.
5 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

6/16/2009--Introduced.
Private Fund Transparency Act of 2009 - Amends the Investment Advisers Act of 1940 to:
(1) repeal the exemption from its registration requirements for private investment advisers; and
(2) continue to exempt from such requirements only foreign private advisers.
Authorizes the Securities and Exchange Commission (SEC) to require any registered investment adviser to maintain and submit records for federal supervision of systemic risk.
Shields the SEC from any compulsion to disclose any supervisory report or information that is required to be filed with the SEC. Repeals the general disclaimer that no provision of the Act shall be construed to require, or to authorize the SEC to require any investment adviser engaged in rendering investment supervisory services to disclose the identity, investments, or affairs of any of its clients.
Empowers the SEC to ascribe different meanings to terms (including the term "client") used in different sections of the Act.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

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