On the recordSeptember 9, 2016
Mr. Speaker, this bill would remove the requirement for private equity funds to submit certain information on Form PF to the FSOC; but that information is intended to capture funds that have built up leveraged and risky positions that pose a systemic risk through counterparty exposure. This is very different from the business model of private equity firms. I know that for those Members who supported H.R. 1105 in the last Congress, this should actually be easier because it provides a very narrow, targeted relief. I voted against H.R. 1105, but I support this bill after thinking carefully about it and the changes. The bill received the support of more than half the Democrats on the Financial Services Committee, and I hope that many more Democrats will support this bill on the floor after my amendment has been adopted. Mr. Speaker, I urge my colleagues to support this bipartisan bill that will support businesses and economic growth around the country.
