IMF Urges Global Financial Rules.

This article reports on the call by the International Monetary Fund (IMF) for a new system of government oversight of hedge funds, private-equity firms and other financial companies whose failure poses a major risk to the global economy. The IMF has also called for a widening of the scope of international financial regulation. The IMF is suggesting a binding code of conduct across nations. The call by the IMF is aimed at influencing the scheduled April 2009 summit of Group of 20 leading economies.