SEC examinations unit aims to strengthen policing of rapidly expanding market for unlisted assets
More private fund managers will hear a knock on their door by US financial regulators this year as Wall Street’s top watchdog toughens its policing of the booming market for unlisted assets.
Greater oversight of private funds is a key focus for the Securities and Exchange Commission, which last week published its top priorities for the division of examinations, a unit that carries out thousands of visits to the offices of investment managers each year.
Assets managed by US registered private funds have surged by 70 per cent over the past five years to about $18tn as more investors have turned to hedge funds, private equity, real estate and venture capital funds in search of better returns.
Read more: FT
