Mon, May 2, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

The Hedge Fund Association announces opposition to potential SRO (Self-Regulatory Organization) currently under investigation by GAO

Saturday, November 06, 2010
Opalesque Industry Update - The Hedge Fund Association (the HFA) today announced its opposition to the creation of any hedge fund self-regulatory organization. The feasibility and benefits of creating such an organization are currently under investigation by the Government Accountability Office (GAO) in accordance with Title IV, Section 414 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

“In our discussions with the GAO, the Hedge Fund Association has let it be known that we stand in firm opposition to any potential hedge fund SRO,” stated David Friedland President of the Hedge Fund Association and President of Magnum U.S. Investments, Inc. “In light of the new registration requirements imposed by the Dodd-Frank Bill we believe that any SRO would prove to be entirely redundant and represent yet another regulatory cost that will suppress industry growth.”

“Hedge funds still represent the best outlet for entrepreneurship in the financial industry. By continuously raising the regulatory costs for a fund to operate, the government is making it harder and harder for smaller fund managers to stay in business,” stated Ron Geffner, Vice President of the Hedge Fund Association and Partner at Sadis and Goldberg, LLP. “It is the HFA’s mission to speak up for the hedge fund industry and for entrepreneurship in finance. This is why we simply cannot stay silent when such a potentially damaging provision is still under consideration by regulators.”

The Hedge Fund Association urges regulators to limit hedge fund regulation to the currently established registration requirements and abandon any consideration of an SRO. The HFA further calls on all Hedge Fund Industry participants to join them in their stand against what could potentially be another wave of costly and redundant regulation.

(press release)

About the Hedge Fund Association
The Hedge Fund Association is a not-for-profit international group of forward-thinkers, practitioners and investors united to influence public policy and foster new opportunity throughout the global hedge fund industry. With the widespread misperceptions of alternative investments, the HFA advocates for members by giving voice to the issues through the education of investors, the media, regulators and legislators. Members of the HFA also serve the community through a commitment to philanthropy and academic excellence...Corporate website:Source
-KM

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  3. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  4. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the

  5. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n