Treasury Dept. Pushes Hedge Fund Self-Policing Plan

Law360, New York (April 16, 2008, 12:00 AM EDT) -- Two private sector committees assembled by the President's Working Group on Financial Markets on Tuesday released a set of best practices for hedge fund investors and asset managers, aiming to increase transparency in a largely unregulated industry.

But critics claimed the nonbinding guidelines would do nothing to rein in some 8,000 funds with nearly $2 trillion in assets.

The PWG, lead by Treasury Secretary Henry Paulson, set up the two committees, one composed of investors and another of asset managers. The committees came up with a...
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