Forex Market Condemns US Plan To Regulate Hedge Funds


WASHINGTON DC--The financial industry, especially the forex industry, is opposing a new regulation proposed last month by Richard Baker, chairman of the U.S. House banking subcommittee, because the so-called "Hedge Fund Disclosure Act" attempts to increase the transparency of the hedge fund industry.

The "Hedge Fund Disclosure Act" 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

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