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The Foreign Exchange Professionals Association (FXPA) has submitted a letter outlining its comments to the Securities and Exchange Commission (SEC) on its proposed rules governing the “Use of Derivatives by Registered Investment Companies and Business Development Companies”. In its letter, the FXPA calls for an exemption for FX swaps and forwards from the proposed new rules. The Association is accompanied by a number of asset management firms in drawing attention to the unique characteristics of the FX market.
The FXPA clearly states its appreciation of the SEC’s aims in reviewing and analyzing funds’ use of derivatives products, and praises the ... (read more)