Treasury Department proposal asks hedge funds to turn themselves in
Treasury Department proposal asks hedge funds to turn themselves in
Unlike many financial institutions, hedge funds traditionally operated without a lot of regulation and reporting requirements. That may soon change as an office of the Treasury Department, the Financial Crimes Enforcement Network, considers a rule that may require hedge funds to report potential wrongdoing within the business. The self-regulation will effectively turn every hedge fund employee into a mandated whistleblower, which is not uncommon in the banking industry. However, the proposed regulation ...