3.0.0 344 2021-07-10T17:39:39Z 2021-07-10T17:39:39Z Senate S S 2009-01-29 111 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2009-01-29T18:37:47Z 2009-01-29 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2009-01-29 Sponsor introductory remarks on measure. (CR S1058-1059) IntroReferral B00100 9 Library of Congress 2009-01-29 Introduced in Senate IntroReferral 10000 9 Library of Congress G000386 Sen. Grassley, Chuck [R-IA] Charles Grassley R IA E. N L000261 Sen. Levin, Carl [D-MI] CARL LEVIN D MI MILTON 2009-01-29 True Finance and Financial Sector Administrative law and regulatory procedures Currency Department of the Treasury Financial services and investments Foreign and international corporations Securities Securities and Exchange Commission (SEC) Terrorism Finance and Financial Sector 00 2009-01-29 Introduced in Senate 2009-03-20T19:32:19Z Hedge Fund Transparency Act - Amends the Investment Company Act of 1940, Securities Act of 1933, the Securities Exchange Act of 1934, and the Internal Revenue Code to convert exceptions to the definition of an investment company into exemptions from mandatory registration as one.

Exempts an investment company with assets, or assets under management, of at least $50 million from ordinary registration and filing requirements only if that company: (1) registers with the Securities and Exchange Commission (SEC); (2) files with the SEC a specified annual electronic information form, made available to the public, concerning ownership structure, investors, primary accountant and broker, and current assets value; (3) maintains such books and records as the SEC may require; and (4) cooperates with any request for information or examination by the SEC.

Requires any investment company meeting such exemption requirements to establish an anti-money laundering program, according to rules prescribed by the Secretary of the Treasury, and report suspicious transactions.

Requires such rules to require exempted investment companies to use risk-based due diligence policies, procedures, and controls reasonably designed to ascertain the identity of, and evaluate, any foreign person that supplies funds, or plans to supply funds, to be invested with the investment company's advice or assistance.

Requires such rules also to require exempted investment companies to comply with the same requirements as other financial institutions for producing records requested by a federal regulator, particularly within 120 hours of receiving such a request.

]]> Hedge Fund Transparency Act Short Titles as Introduced Hedge Fund Transparency Act Display Title Hedge Fund Transparency Act Official Title as Introduced A bill to require hedge funds to register with the Securities and Exchange Commission, and for other purposes. Introduced in Senate 2009-01-29T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111s344is/xml/BILLS-111s344is.xml 2009-01-29 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.