Obama Administration rolls out new hedge fund registration rules

The new rule, The Private Fund Investment Advisers Registration Act of 2009, would mandate all private fund advisers with more than $30m under management to register with the SEC.Under the new proposal, hedge fund managers would have to keep records and report on information pertaining to their operations as well as the funds they manage, according to press releases from the US Treasury and the Managed Funds Association.Specific information that advisers would have to provide the SEC include