President Obama Bill Seeks to Shine Spotlight on Hedge Funds

[cal04]

http://www.nytimes.com/reuters/2009/07/15/business/business-us-financial-hedgefunds.html

The Obama administration on Wednesday will propose that hedge fund managers submit to new registration and disclosure rules to boost transparency and limit any risks they pose to the financial system, a senior U.S. Treasury official said.

The administration is sending legislative language to Congress that would require investment advisers with more than $30 million in assets under management register with the Securities and Exchange Commission (SEC) and disclose key information to regulators and investors, said Michael Barr, U.S. Treasury assistant secretary for financial institutions.

The bill, if approved by Congress, would give regulators a powerful microscope to peer into the secretive hedge fund industry to identify potential threats to the financial system.

Barr, previewing the bill in a speech to a business group on Wednesday, said it aimed to discourage risk taking among the biggest financial players.

[HopeOverFear]

1. Very good

[ruggerson]

2. funny that this isn't getting more comments

;)

[Kdillard]

3. Kick.