U.K. Treasury Minister Ed Balls said that Britain will propose that financial regulators share information on investors’ exposure to hedge funds, Reuters reports.

Speaking at a conference of the Financial Services Authority, Balls said, “We believe that the quality of prudential supervision of hedge fund activity would be enhanced if there were greater cooperation between the key regulators in monitoring the main counterparties’ exposures to hedge funds.”

One idea would be to share the findings of the FSA’s six monthly inquiries with other regulators, he said.

The regulator doesn’t plan to ask hedge funds about their holdings, however, as doing so would imply that they are overseeing their investment decisions, Balls said.

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