At a recent forum hosted by the US Commodities Futures Trading Commission, acting chairwoman of the CFTC, Sharon Brown-Hruska revealed that the regulator is close to reaching an agreement with the Securities and Exchange Commission over the treatment of hedge funds which invest in commodities.
The CFTC is seeking to have some of the funds that it regulates exempted from the SEC’s plans to clamp down on the risky investment sector, which require hedge funds to register with it by February 2006.
According to a Reuters report, Ms Brown-Hruska told those attending the meeting on Wednesday that:
“The senior staff of the SEC and the CFTC have met two times on the issue…and have made what appears to be significant progress. I am cautiously optimistic that the CFTC and the SEC will be able to announce an agreement later this spring, if not earlier.”
Officials from the CFTC and the SEC are set to meet again later this month.
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