H.R.6079 - Hedge Fund Study Act109th Congress (2005-2006)
|Sponsor:||Rep. Castle, Michael N. [R-DE-At Large] (Introduced 09/14/2006)|
|Committees:||House - Financial Services | Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||11/13/2006 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Subject — Policy Area:
- Finance and Financial Sector
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Summary: H.R.6079 — 109th Congress (2005-2006)All Bill Information (Except Text)
Passed House amended (09/27/2006)
Hedge Fund Study Act - Instructs the President's Working Group on Financial Markets to study and report to certain congressional committees on the hedge fund industry.
(Sec. 2) Requires the study to analyze: (1) the changing nature of hedge funds and what characteristics define a hedge fund; (2) the growth of hedge funds within financial markets; (3) the growth of pension funds investing in hedge funds; (4) whether hedge fund investors are able to protect themselves adequately from the risk associated with their investments; (5) whether hedge fund leverage is effectively constrained; (6) the potential risks hedge funds pose to financial markets or to investors; (7) various international approaches to hedge fund regulation; and (8) benefits of the hedge fund industry to the economy and the markets.
Requires the recommendations to include: (1) any proposed legislation relating to appropriate disclosure requirements for hedge funds; (2) the type of information hedge funds should disclose to regulators and to the public; (3) any efforts the hedge fund industry or regulators of financial institutions should undertake to improve practices or provide examples of successful industry initiatives; and (4) any oversight responsibilities that members of the President's Working Group should have over the hedge fund industry, and the degree and scope of such oversight.