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Article: White House to Urge New Rules for Hedge Funds
- Article from:
- The Washington Post
- Article date:
- April 29, 1999
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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A White House task force plans to recommend today that Congress
require the vast investment pools known as hedge funds to disclose
previously private financial information on a regular basis, thus
giving regulators and investors advance knowledge of their borrowings
and risk-taking in the securities markets.
The plan, part of a package of recommendations negotiated by the
Federal Reserve, Treasury and other top regulators, is intended to
bring more oversight to these largely unregulated investment
vehicles. Last fall, global financial markets plunged and major
banks and securities firms lost huge sums when one of the biggest
hedge funds nearly collapsed after a series of complex market bets ...