Tag: Skeptical

Hedge Funds Skeptical of SEC Plan to Let Firms Conceal Stocks

(Bloomberg) — A controversial U.S. Securities and Exchange Commission plan that would let many hedge funds conceal their stock picks is generating pushback from an unlikely source: hedge funds.



a sign on the side of the street: A "Do Not Enter" street sign stands along Wall Street near the New York Stock Exchange.


© Photographer: Michael Nagle/Bloomberg
A “Do Not Enter” street sign stands along Wall Street near the New York Stock Exchange.

The industry’s main trade group is questioning whether the SEC fully considered the impact of significantly slashing the number of firms that have to disclose their holdings. The Managed Funds Association, in a comment letter posted Friday on the regulator’s website, urged the agency to do more analysis before moving forward.

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“The proposing release underestimated the costs associated with the loss of publicly available information,” the Washington-based group said in a letter dated Sept. 29.

At issue is a July SEC proposal that would mark a dramatic overhaul of fund reporting rules that haven’t been updated in 40 years.

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Trump to Court Skeptical Black Voters With Small Business Plan

He plans to outline a policy the White House calls the Platinum Plan to increase Black employment and give Black-owned businesses access to $500 billion in capital, according to people familiar with the proposal. The people asked not to be identified discussing the proposal before the president announces it.

His plan also calls for the government to encourage greater “activity” in Opportunity Zones, a program created by the 2017 tax overhaul Trump signed, according to a memo obtained by Bloomberg News. Under the law, investors can reap tax benefits by investing in areas states designate as low-income.

Yet the program has drawn criticism for luring investment to neighborhoods that were already improving and for encouraging gentrification, displacing some Black residents who were supposed to benefit.

Trump will also promise further action along the lines of a law he signed in 2018 to reduce federal sentences for some non-violent offenses.

The

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