The U.S. Securities and Exchange Commission (SEC) will propose a new rule on Wednesday aimed at boosting hedge and private fund leverage disclosures, among other details, according to a source familiar with the agency's thinking.

The proposal by the Wall Street regulator would require funds to provide more information on their leverage as part of confidential "Form-PF" disclosures, the person said, adding that the measure would also apply to fund advisers who also operate as commodity investors and traders under Commodity Futures Trading Commission rules, the person said.