(Bloomberg) -- Hedge funds have long complained about U.S. rules that force them to reveal their investments to other traders. For many money managers, that obligation could be going away. The Securities and Exchange Commission said Friday that it’s considering requiring only investors who hold at least $3.5 billion in equities to disclose their holdings quarterly. Under current requirements, fund managers with at least $100 million in securities must report their investments every three months. The proposal would mark a dramatic easing of rules that haven’t been changed in more than four decades.