IMF Proposes New Rules For Big Financial Institutions

The International Monetary Fund has proposed a broad new set of rules for big financial institutions, such as hedge funds and private-equity firms, whose failure could cross borders and cripple governments.

The IMF is proposing a "binding code of conduct across nations" for governments to aid coordinated efforts at interceding in troubled financial firms.

The proposals are aimed at the April 2 meeting of the G-20 finance ministers in London. They would extend regulation to businesses, such as hedge funds, that have so far been able to operate little little transparency.

-- Frank Ahrens
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