CNBC – The new disclosure rules for hedge funds proposed by the CFTC and SEC this week are much better than I would have expected.
For one thing, it’s nice to see the Commodity Futures Trading Commission and the Securities and Exchange Commission jointly drafting rules, instead of creating their own sets of regulations that would inevitably conflict in the details. This is a much harder task than you might think, since the rules had to be vetted by the staffs of every commissioner on the CFTC and the SEC, and then approved by a majority of the commissioners at each agency. As it turns out, every single commissioner at the SEC and the CFTC approved the rules.
