PWG hedge fund committee calls for more disclosure

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A hedge fund advisory committee that reports to the President’s Working Group on Financial Markets called this week for hedge funds to improve their practices in the areas of disclosure, asset valuation, risk management, business operations, compliance and conflicts of interests. The committee made its suggestions in a long-awaited report released this week.

In the wake of last summer’s credit meltdown, the PWG established two private sector groups, one comprised of asset managers and the other of investors, to promote government dialogue with the private sector. The government tapped the asset managers group, headed by Eton Park Capital Management