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10-27-09 5:04 PM EDT | E-mail Article

WASHINGTON -(Dow Jones)- Investment advisers with less than $150 million in managed assets would be exempt from new federal reporting requirements under an amendment adopted by a U.S. House panel on Tuesday.

The House Financial Services Committee adopted an amendment offered by Rep. Gary Peters, (D., Mich.) that would set the new threshold. Smaller advisers and funds would not face new requirements from the Securities and Exchange Commission, though they could be asked to provide certain records if the agency deems it appropriate.

Additionally, mid-size firms that are larger than $150 million in managed assets but do not pose a systemic risk would be singled out by language directing the SEC to consider their size, governance and management when setting new rules.

-By Michael R. Crittenden, Dow Jones Newswires; 202-862-9273; michael.crittenden@dowjones.com


  (END) Dow Jones Newswires
  10-27-091704ET
  Copyright (c) 2009 Dow Jones & Company, Inc.
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