Hedge funds were spared disclosure requirements in the financial overhauls proposed by the Obama administration, and that is definitely due to the industry’s stepped-up lobbying efforts, The Wall Street Journal reports.

According to the proposal, hedge funds will be required to register with the Securities and Exchange Commission. However, tougher rules that the industry feared, such as disclosing trades and lowering fees, are not in the proposal. Congress, however, is still considering additional hedge fund disclosure requirements.

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