WEST PALM BEACH, FL (www.hedgeco.net) – The acting chairman of the U.S. Commodities and Futures Trading Commission Sharon Brown-Hruska told Reuters, \u00c3\u00af\u00c2\u00bf\u00c2\u00bdMarket regulators and lawmakers should hear thefacts and not the hyperbole before rushing to introduce new rules for hedge funds.\u00c3\u00af\u00c2\u00bf\u00c2\u00bd Brown-Hruska said, “It’s important that the reactions of legislators and regulators are based on fact rather thanhyperbole.\u00c3\u00af\u00c2\u00bf\u00c2\u00bd<\/p>\n
Brown-Hruska talked about her conversation with European Union Internal Market and Services Commissioner Charlie McCreevy, saying, “We talked a bit about hedge fund regulation; he and I share the concern that regulators and legislators don’t overreact to the activities of hedge funds in the market place.\u00c3\u00af\u00c2\u00bf\u00c2\u00bd According to Brown-Hruska, “Hedge funds are a positive contribution to the market.\u00c3\u00af\u00c2\u00bf\u00c2\u00bd<\/p>\n
McCreevy said, \u00c3\u00af\u00c2\u00bf\u00c2\u00bdHe does not have any plans to regulate the European Hedge fund industry.\u00c3\u00af\u00c2\u00bf\u00c2\u00bd He said, “I don’t think we should have a situation in the financial markets where we have excessive regulation of hedge funds.” McCreevy added,\u00c3\u00af\u00c2\u00bf\u00c2\u00bd We are not planning at the present to introduce any new regulation in this area.”<\/p>\n
Recently the German Chancellor Gerhard Schroeder mentioned the German government may seek ways to tighten the German hedge fund industry, following the removal of Deutsche Boerse’s management by shareholders which also included hedge funds. The German Economy Minister, Wolfgang Clement and Finance Minister Hans Eichel also echoed the statement. No specific measures or guideline for such regulation have been released.<\/p>\n
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net<\/p>\n
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