LONDON (HedgeWorld.com)–Cynthia A. Glassman is still lending her voice to the continued criticism of the Securities and Exchange Commission’s increased hedge fund oversight.
Last week in London, the Republican SEC commissioner once again questioned whether the SEC was accomplishing its mission of protecting investors through mandatory hedge fund adviser registration. She highlighted what she saw as the “predictable consequences” of registration.
“Overall, I was never quite clear as to what the real objectives of this rule were, so it’s very hard to tell whether or not we are accomplishing them,” she said in a speech at the Tenth Annual Conference on SEC Regulation Outside the United States.
She repeated her belief that the registration rule, which she and fellow Republican commissioner Paul S. Atkins voted against, was not well thought-out in that officials didn’t decide what information was necessary to collect from hedge fund managers in order to monitor them and detect “red flags.”