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Congress told venture capital firms need oversight

Reuters – U.S. hedge funds and private equity firms told Congress on Tuesday that all advisers to private pools of capital should be subjected to the same level of federal scrutiny, including those managing venture capital funds.

A draft U.S. bill would require advisers of hedge funds and private equity funds to register with the Securities and Exchange Commission, thus forcing more disclosures to regulators and investors.

However, the draft House of Representatives bill exempts venture capital funds from mandatory registration with the regulator.

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