In a long-anticipated move, U.S. Treasury Secretary Timothy
Geithner unveiled the Obama administration’s plan
for heightened federal supervision of the financial system,
which includes more regulation for hedge funds.
Geithner’s plan was put forth at a House Financial
Services Committee hearing held yesterday.
Geithner’s proposal would create federal
supervision of hedge funds by requiring funds with assets under
management "over a certain threshold" to register with the
Securities and Exchange Commission. That threshold was not
"U.S. law generally does not require hedge funds or other
private pools of capital to register with a federal financial
regulator, although some funds that trade commodity derivatives
must register with the CFTC and many funds register...