Hedge Funds Face New SEC Disclosures as Gensler Cracks Down

Large hedge funds and private-equity firms may soon have to start reporting steep losses, major redemptions and other extraordinary events in near real-time to the U.S. Securities and Exchange Commission -- a change that the regulator says will help it protect the financial system during meltdowns and wild swings like the meme stock mania that roiled markets a year ago.

The commission plans to propose on Wednesday that big funds submit confidential forms to the SEC within one business day when there are significant changes to their prime-brokerage relationships, available cash or counter-party defaults. The push to change the ...