The U.S. House of Representatives on Wednesday evening passed a bill calling for a broad-based study of the $1.5 trillion plus hedge fund industry.
The legislation, proposed on September 14 by Congressman Mike Castle (R.-Del.) as the "Hedge Fund Study Act," would require the President's Working Group on Financial Markets to study the hedge fund industry and make recommendations regarding hedge fund disclosure requirements. At the moment, no companion bill has been introduced in the Senate.
The hedge fund study would require the President's Working Group to study the potential risks hedge funds pose to investors and the financial markets; the