CCMC Comments on SEC's Proposed Rule Private Fund Advisers

The U.S. Chamber of Commerce’s (“the Chamber”) Center for Capital Markets Competitiveness (“CCMC”) appreciates the opportunity to comment on the Securities and Exchange Commission’s Proposed Rule on “Private Fund Advisers; Documentation of Registered Investment Adviser Compliance Reviews” (“the Proposal”) that would amend private fund reporting rules and prohibit certain types of conduct. The Commission asserts that the purpose of the proposed rules “is to protect those who directly or indirectly invest in private funds by increasing visibility into certain practices, establishing requirements to address certain practices that have the potential to lead to investor harm, and prohibiting adviser activity that the Commission believes is contrary to the public interest and the protection of investors.”