SEC 'not serious' about monitoring hedge funds' risk to economy, commissioner says

26 July 2018 10:04pm
The US Securities and Exchange Commission does a poor job of tracking its filings from hedge fund advisers and therefore lacks awareness of systemic risks that they might pose, Commissioner Robert Jackson said.

Jackson, a Democrat, said he has repeatedly raised these concerns with Chairman Jay Clayton and others so that the commission will better monitor financial data required from private fund advisers at least annually.

“When the answer is, 'We don’t know if they’ve even filed a form,' that worries me,” he told a Washington conference* this week. “We’re not serious about digging into the information we have. What keeps me up at night is there might be a ticking time bomb in one of the pieces of data that we’re not looking at.”