WEST PALM BEACH, FL (HEDGECO.NET) – Dan Quayle, former U.S. Vice President under President George Bush Sr, had a meeting with the William Donaldson, chairman of the US Securities and ExchangeCommission to discuss the hedge fund regulation issue which has been at the center stage for the US regulatory agency. Quayle is an adviser to the firm Cerberus Capital Management L.P. CerberusCapital Management has raised its concerns about the hedge fund regulatory oversight proposals the SEC is currently considering, however details of the meeting were not revealed.
The executive vice president of Quayle and Associates, Craig Whitney, denied published reports suggesting that the former vice president was lobbying on behalf of the US hedge fund establishment.
Whitney, while denying such reports said Quayle was trying to convince the SEC Chairman to weaken support for such a proposal. According to published reports, Whitney said, “All of the lobbying we do on behalf of Cerberus is handled by me.� He explained further, that Dan Quayle�s �intent was really just to have a good discussion and explain a little bit about the firm that we represent.� Whitney also noted that the meeting �was just a high-level, substantive discussion.�
In recent remarks, Donaldson�s statements seem to be suggesting a softening of his original proposals, about hedge funds being regulated. There are indications that the five-member SEC commission may split over this matter. This may be on a partisan basis, as democratic members of the commission, along with the SEC chairman are likely to support this proposal while republicans remain opposed to the regulation. It is likely that a vote on this issue will take place in the middle of July.
The SEC office acknowledged that Dan Quayle met with Chairman Donaldson on June 10; they declined to answer reporters� questions on the details of the meeting, only to say that it was friendly and went well.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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