Private fund advisors must spell out fees, performance under draft US SEC rules

Private fund advisors must spell out fees, performance under draft US SEC rules

FILE PHOTO: The U.S. Securities and Exchange Commission logo adorns an office door at the SEC headquarters in Washington, June 24, 2011. REUTERS/Jonathan Ernst

The US Securities and Exchange Commission (SEC) on Wednesday voted to propose heightened regulations meant to scrutinise how private fund advisors charge fees to investors and measure fund performance.

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