CPIC Backs SEC Reporting Requirements for Private Investment Companies to Safeguard Financial System

Following the Securities and Exchange Commission’s approval today of rules imposing reporting requirements on private investment companies, in compliance with Dodd-Frank, and thereby enhancing regulators’ ability to monitor systemic risks, the Coalition of Private Investment Companies issued the following statement:

“In testimony on Capitol Hill and in comment letters to the Securities and Exchange Commission, the Coalition of Private Investment Companies supported more detailed reporting to the regulators by registered advisers to private investment funds. Today’s rule draws the appropriate line between determining public disclosures and protecting proprietary information, while ensuring that regulators have the information needed to monitor systemic risks. We look forward to working with the Commission to provide counsel in implementing the rules.”

The Coalition of Private Investment Companies is diverse in size and in the investment strategies pursued. Established in 2005, CPIC informs policymakers, the media, and the public about the private fund industry and its role in capital markets.