HR 2924 · 106th Congress · Finance and Financial Sector

Hedge Fund Disclosure Act

Introduced 1999-09-23· Sponsored by Rep. Baker, Richard H. [R-LA-6]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote.(2000-03-16)

Plain Language Summary

[AI summary unavailable — showing source text] Hedge Fund Disclosure Act - Requires each unregulated hedge fund to submit quarterly reports for public dissemination to the Board of Governors of the Federal Reserve System, including: (1) total assets and notional amount of its derivatives position; (2) the balance sheet leverage ratio of assets to liabilities; (3) meaningful, comprehensive measures of market risk; and (4) such other information as selected regulatory agencies may require. Provides for sequestration of any proprietary information. Defines unregulated hedge fund as: (1) any pooled investment vehicle with capital of $3 billion or more that is privately organized, administered by professional investment managers, not widely available to the public, and is not registered as an investment company under the Investment Company Act of 1940; and (2) any group or family of such pooled investment vehicles with total assets under management of $20 billion or more. Authorizes judicial enforcement of orders issued by designated regulatory agencies. Denies judicial review of any order issued by such agencies. Expresses the sense of Congress that each public company, including financial institutions, should regularly and publicl…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (10)

4 Democrats6 Republicans