Industry News

Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

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SEC Lifts Ban on Hedge Fund Advertising

Jul 10, 2013
Jing Chen

Hedge funds are now allowed to advertise to the general public.

Fortune reported that the Securities and Exchange Commission voted 4-1 Wednesday to approve the passage of the JOBS Act, lifting the 80-year general solicitation ban enforced on hedge funds and other private funds. That would mean giving the green light to online, print and TV from the private funds sector.

Investors will still need to be accredited before making a hedge fund investment.  The SEC is mandating that funds would be required to take “reasonable steps,” such as receipt of tax returns or bank account statements to verify investor accreditation.

The SEC had continually delayed passing the JOBS Act since it missed its initial July 4 deadline last year.

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