Treasury To Float New Reporting Rule For Hedge Funds

Law360, New York (January 4, 2013, 5:24 PM EST) -- The U.S. Department of the Treasury's financial crimes division is preparing a proposed rule that would require hedge funds to report suspicious trading activity by employees or outside parties, the department said Friday.

The Treasury’s Financial Crimes Enforcement Network is planning to issue a proposed rule within the next few months that would require hedge funds to register as investment advisors, in line with requirements of the Dodd-Frank Act, according to FinCEN spokesperson Steve Hudak.

The registration requirement would mean hedge funds would have to file...
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