The SEC reported that 1,504 advisers to hedge funds and other private funds have registered with the agency since the Dodd-Frank Act mandated such registration. "Prior to the Dodd-Frank Act, regulators only saw a slice of the pie but didn’t know how big the pie was," said SEC Chairman Mary L. Schapiro. "The law enables regulators to better protect investors by providing a more comprehensive view of who’s out there and what they’re doing.rdquo;
Lofchie Comment: The report provides numbers, with pie charts (in disconcerting colors), as to the number of advisers registered with the SEC, the assets under management by those advisers and the country in which the advisers are located. These numbers will likely be used in the discussion as to how advisers should be regulated; i.e., whether the SEC can handle this task directly or that should be a self regulatory organization for advisers akin to that for broker-dealers.