Hedge Funds Disclosure Rules
Hedge Funds Prepare to Fight Back Against Disclosure
Hedge funds are gearing up to take on proposed rules that would force them to turn over more data about their trading positions to the U.S. government.
Regulators will be required to keep the information they gather confidential, but some hedge funds are invoking a WikiLeaks scenario, saying they are concerned that too many hands will be on their proprietary data and the government won't be able to protect it.
"We always have a concern about having our name attached to a particular portfolio position or particular strategy," said David Rubenstein, the chief financial officer and general counsel of BlueMountain Capital Management LLC, which has $4 billion under management. "If it were disseminated publicly, it could come back to hurt us or hurt the market as a whole."