Hennessee Group, an adviser to hedge fund investors, has released its opinion on how to improve hedge fund investors’ protection and reduce systemic risk related to hedge funds.
Hennessee Group says that they supports recent SEC action to increase the accredited investor level and recommends further considerations related to “gatekeepers” in accordance with prior recommendations the Hennessee Group has made before the House of Representatives, Senate, SEC and CFTC between 1998 and 2005.
The Hennessee Group also supports the recent SEC ruling to increase the accredited investor level.
“The increase in personal household wealth, inflation and economic growth since 1982, when the accredited investor level was enacted, in and of itself points to the need to increase the accredited investor level,” says Charles Gradante, the Managing Principal of the Hennessee Group. “Additionally, we at the Hennessee Group also support the ‘gatekeeper’ approach to monitoring systemic risk and enhancing investor protection.”