Forex Market Condemns US Plan To Regulate Hedge Funds
REGULATORS
WASHINGTON DC--FX market participants struck out last week at moves to rein in the hedge fund industry, as regulators debated a new law proposed in Washington last month.
The "Hedge Fund Disclosure Act", which is being proposed by house banking subcommittee chairman Richard Baker, was drawn up in response to the near collapse of Long Term Capital Management (LTCM) a year ago. It consists of a range of measures aimed at increasing the transparency of the hedge fund market.
Preventing Upheaval
The
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