For Immediate Release:  Jan 24, 2008
2008, 01, 24

Impact of Declining Dollar to be Debated at Hofstra Foreign Exchange Symposium, Feb. 8th

Impact of Declining Dollar to be Debated at Hofstra Foreign Exchange Symposium, Feb. 8th

Media Contact
Allen Morrison
Director of Communications
Hofstra Law
Phone: 516.463.4142
E-mail: allen.morrison@hofstra.edu

HEMPSTEAD, N.Y. — Legal and business professionals, academics, and top regulators will gather at Hofstra Law School on Friday, February 8, to discuss the current state of the foreign exchange market (FOREX) and the declining dollar.

Walter Lukken, Acting Chairman of the Commodity Futures Trading Commission (CFTC), will give the keynote address. CFTC’s mission is to protect market users and the public from fraud, manipulation, and abusive practices related to the sale of commodity and financial futures and options, including foreign currency futures and options. Also among the panelists will be Francisco Ramon-Ballester, Advisor to the European Central Bank, International Monetary Fund.

The symposium, sponsored by Hofstra’s Journal of International Business and Law (JIBL), a publication jointly produced by students of Hofstra Law School and the University’s Frank G. Zarb School of Business, will take place in the Law School Atrium beginning at 9 a.m. (registration at 8:30).

A 24-hour-a-day worldwide money bazaar, the foreign exchange market is the largest financial market in the world, trading over $3.2 trillion a day. With increased participation and regulation of the FOREX market in recent years, disputes arose as to the classification and regulation of FOREX trades. In 2004, in CFTC v. Zelener, the Seventh Circuit set forth a controversial decision concerning which governing body should regulate FOREX. In his keynote speech, Mr. Lukken is expected to discuss the CFTC’s role in regulating trading of foreign currency futures and options. 

The panel discussions will include one entitled “Is the Depreciating Dollar Good for the U.S. Economy? Is It Good for the World’s Economy?” Other panels will deal with FOREX regulatory and legal issues and the impact of the declining dollar on corporate pricing and hedging strategies. 

For registration information, contact Paul Sudentas, Editor-in-Chief of the JIBL, at psuden1@pride.hofstra.edu or call (516)463-6188, or visit law.hofstra.edu/ForexSymposium. News media may contact Law School Communications Director Allen Morrison at (516) 463-4142.

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The Maurice A. Deane School of Law at Hofstra University is located 40 minutes from New York City in suburban Long Island. Hofstra Law is home to nearly 850 students, an alumni base of more than 10,600 members and a distinguished faculty of more than 50 professors, including many scholars recognized as national and international experts in their field. The law school is part of Hofstra University and is fully accredited by the Council of the Section of Legal Education and Admissions to the Bar of the American Bar Association.

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