The Canadian Venture Capital & Private Equity Association said in a letter to the U.S. Securities and Exchange Commission that the new obligations would “have a direct negative impact on Canadian investors.” (The Logic)

Talking point: The new rules—part of the regulator’s broader effort to bring more transparency to an opaque area of capital markets—would compel private equity funds, hedge funds and some venture capital firms to release quarterly reports detailing figures like their fees and expenses, executive compensation, and fund performance. The CVCA said its members, which number 2,200 individuals and nearly 300 organizations, are most concerned about “the absence of grandfathering” for existing funds and that expecting existing funds to comply would be “rewriting terms” already agreed upon by funds and investors. It could also be cost-prohibitive, the group said.