Wall Street watchdog unveils rule to boost quality of private, hedge fund disclosures

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By Katanga Johnson WASHINGTON (Reuters) -The U.S. Securities and Exchange Commission (SEC) voted to propose a rule that seeks to improve the quality of disclosures it receives from large private and hedge funds, the agency said on Wednesday, confirming what a source previously told Reuters. The rule, aimed to boost disclosures around leverage and investment strategies, will be proposed in conjunction with the Commodity Futures Trading Commission (CFTC), and forms part of ongoing scrutiny of the fund industry. The measure would expand reporting requirements for advisors and large hedge funds wi...

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