U.S. Treasury Secretary-nominee Timothy Geithner endorsed registration of hedge funds in answer to questions from the Senate Finance Committee in a confirmation hearing Wednesday.
“The financial crisis has highlighted the urgent need to overhaul the oversight of our financial system,” said Geithner. “With an objective of bringing greater transparency and oversight, I believe that we should consider requiring registration of hedge funds. If confirmed, I look forward to working with Congress on this.”
Geithner’s comments were in response to a query by Sen. Chuck Grassley (R-Iowa), the committee’s top Republican, who asked Geithner if he supports requiring hedge funds to