CFTC Commissioner Resigns

Jul 21 2006 | 5:28pm ET

Hedge funds have lost a champion on the Commodities Futures Trading Commission with the resignation of Sharon Brown-Hruska. The former business school professor, who was nominated to be a commissioner in 2002, will join NERA Economic Consulting's securities and finance practice as a vice president.

Brown-Hruska served as acting chairman of the agency from 2004 to 2005.

"Sharon's deep understanding of global financial markets will further enhance NERA's leading position as a foremost authority on securities and finance issues," NERA President Andrew Carron said. On the CFTC, Brown-Hruska urged caution in issuing new hedge fund regulations, and was a prominent opponent of the Securities and Exchange Commission's hedge fund registration requirement.


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The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.