CONFERENCE NEWS: CFTC commissioner dismisses over prescriptive regulation

Sharon Brown-Hruska, commissioner of the US Commodity Futures Trading Commission, yesterday called for regulators to dismiss their "overly prescriptive attitude to regulation" and "draconian practices" to aid the development of the structured products market in the US.

Brown-Hruska, who was speaking on the first day of Structured Products' inaugural America's conference at the Biltmore Hotel in Coral Gables, Florida, said she is concerned that regulators are stifling innovation in the market. In particular she pointed to the National Association of Securities Dealers (NASD) notice to members on structured products that circulated late last year.

The notice was greeted with a degree of scepticism in the market since it was published with seemingly no market

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