Highlights of Obama Administration’s Financial Regulatory Proposals Relevant to Private Funds and Their Advisers
President Obama recently unveiled his administration’s ambitious proposal for financial regulatory reform. With respect to the regulation of private funds and their advisers, the proposal sets forth several important recommendations, which, if implemented, would, among other things, require registration of most private fund advisers, impose largely unspecified disclosure and reporting obligations on private funds advised by such advisers and potentially subject private funds that are determined to be systemically significant to strict supervision by the Federal Reserve. This memorandum provides an examination of these proposals.