GOP Congressman Proposes Hedge Funds Register With SEC

Sen. Charles Grassley, the senior Republican on the Senate Finance Committee, on Wednesday introduced legislation that would require hedge funds to register with the U.S. Securities and Exchange Commission.

Grassley filed the legislation as an amendment to a Homeland Security bill now being debated by the Senate.

"My amendment gives Congress a good opportunity to say there should be greater transparency with hedge funds," Grassley said in a statement.