PALM DESERT, Calif.-Eileen Rominger, in her first appearance before a gathering of members of the mutual fund industry's largest trade group, said that compliance with existing and forthcoming rules as well as robust regulation of these is essential to achieving and maintaining the trust and confidence of investors.

Appearing by video link from Washington, the director of the division of investment management at the Securities and Exchange Commission, said derivatives can be used effectively for either hedging risks or accentuating them and that other relatively new products such as exchange-traded funds bring new complexities to investment markets that need to be monitored closely to protect investors.

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