European hedge funds have struggled to gain approval from the U.S. Securities and Exchange Commission due to the EU General Data Protection Regulation, the Financial Times reports. The SEC has asked companies that have attempted to register with the agency to provide assurance they can turn over information, such as trade records, financial statements and client profiles. The SEC has also considered asking companies that registered before the GDPR came into effect for the same assurances. Dechert Financial Services Partner Karen Anderberg said there are exemptions within the GDPR where the agency could work with regulators within the European Union to get the data they require. (Registration may be required to access this story.)
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