Connecticut lawmakers in the House of Representatives are expected to pass a hedge fund transparency bill, possibly ending the state’s days as a hedge fund haven, The Wall Street Journal reports.

The bill would require hedge funds that have not voluntarily registered with the Securities and Exchange Commission to reveal any conflicts of interest to shareholders, which theywould have to do if they were registered. They would also have to be licensed in the state, undergo audits and disclose fees and any changes in strategy.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.