U.K. Hedge Fund Group Pushing for Reforms

The Alternative Investment Management Association, a hedge fund group headquartered in the U.K., is pushing for more transparency, in an effort to stave off regulation.

The association reportedly will propose self-regulations on Tuseday, including registering with authorities, documenting executives’ qualifications and disclosing their short positions.

The hedge fund industry is bracing for tighter regulations in light of the financial crisis and recent revelations of fraud, including the $50 billion scheme by Bernard Madoff.

European Central Bank President Jean-Clade Trichet said Monday that the financial crisis is a “loud and clear call” that additional regulation is “systemically important” to the health of every nation’s economy.