Sen. Jack Reed (D-RI) is once again taking aim at the venture capital industry with a proposal that would require VC, private equity, and hedge funds with more than $30 million under management to register with the Securities and Exchange Commission.
Reed proposed this legislation last year, but the Senate’s financial reform bill exempted venture and private equity funds, while requiring hedge funds with more than $100 million in assets to register. Politco reports Reed will offer a similar amendment to the bill, which is awaiting action by the full Senate.
The venture industry lobbied heavily against the registration requirement saying it is unnecessary and would be a burden, especially on small firms.
To read the full, original article click on this link: Sen. Reed Again Pushes $30M Registration Rule For VC - Venture Capital Dispatch - WSJ
Author: Russell Garland
