The Madoff scandal, which caught the SEC and savy institutional investors flat-footed, is increasing the pressure for more oversight and regulation within investment management and hedge fund industries. It is expected that Congress will be busy with this and other matters regarding regulation of the capital markets. In fact, Senator Chuck Grassley from Iowa recently announced his intention to require hedge fund registration at the SEC level.
In addition to Grassley, two more members of Congress are calling on greater oversight in the wake of the Madoff scandal. Specifically Congressman Paul E. Kanjorski from Pennsylvania and Congressman Spencer Bachus from Alabama are calling on the House Financial Services Committee to hold hearings on the Madoff scanal. I have reprinted the two notices below. We will continue to provide information on possible hedge fund registration as it comes forward. Related hedge fund law and registration articles include: Continue reading