Obama pushes hedge fund oversight
Administration official says the president will propose laws requiring fund managers with more than $30 million to disclose more information.
WASHINGTON (Reuters) -- The Obama administration on Wednesday will send Congress legislation demanding 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.
"Later today, we will send legislative language to the Hill that requires registration of all hedge funds and other private pools of capital over a minimum threshold in size," Treasury assistant secretary Michael Barr said in prepared remarks to a business group in Washington.
The bill, one of many Obama administration proposals to revamp financial regulation, would require all investment advisers with more than $30 million under management to register with the SEC and disclose key information about their funds to regulators and investors.
These disclosures would include asset size, borrowings and off-balance-sheet exposures, among other information, Barr said. 
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