WASHINGTON—Regulators proposed expansive new necessities for personal funding funds Wednesday as a part of a widening effort to police a quickly rising however comparatively opaque nook of the capital markets.

In a Wednesday morning assembly, the Securities and Alternate Fee handed a proposal that may power hedge funds and private-equity funds to offer primary disclosures to their traders and guard in opposition to conflicts. The Democratic-controlled fee permitted the proposal by a 3-to-1 vote, signaling a robust probability {that a} ultimate model will likely be adopted. The company will now search public feedback for at the least two months earlier than issuing a ultimate rule.

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