Treasury Plans to Release Reports on Hedge Funds

Two reports on hedge funds are expected to be out today from the office of Robert K. Steel, under secretary of the Treasury for domestic finance.  One, prepared by Eric Mindich, operator of the hedge fund Eton Park, proposes nonbinding best practices for hedge fund such as publishing audited financial statements.  The other report, prepared by Russell Read, the chief investment officer for Calpers, address the applicability of funds to different classes of investors.  NYTimes, Wall Streeter Converts to a Fan of Regulation.