H.R.2586: To amend the Investment Advisers Act of 1940 to authorize the Commission to require the registration of hedge fund advisers under that Act.

To amend the Investment Advisers Act of 1940 to authorize the Commission to require the registration of hedge fund advisers under that Act. 6/6/2007--Introduced. Securities and Exchange Commission Authority Restoration Act of 2007 - Amends the Investment Advisers Act of 1940 with respect to the exemption from the requirement of registration for any investment adviser: (1) who has had fewer than fifteen clients during the course of the preceding twelve months; and (2) who neither holds himself out generally to the public as an investment adviser, nor acts an an investment adviser to any registered investment company or a company which has elected to be a business development company. Authorizes the Securities and Exchange Commission (SEC) to: (1) limit the availability of this exemption; and (2) require the registration of any investment adviser by requiring that certain shareholders, partners, and beneficial owners of, or investors in, clients of the adviser be counted [...]

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