Wed, Sep 2, 2015
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. Cliff Asness attracts $360 million as liquid alternative funds hold up[more]

    From Bloomberg.com: As U.S. stocks suffered their worst month in more than three years in August, Clifford Asness’s managed futures fund was able to profit. Investors are taking notice. The $9.12 billion AQR Managed Futures Strategy Fund pulled in an estimated $360 million in net subscriptions last

  2. Performance - Einhorn and Loeb's hedge funds both decline 5% in August, Some target-date funds miss in the market turmoil[more]

    Einhorn and Loeb's hedge funds both decline 5% in August From Reuters.com: Hedge fund billionaires David Einhorn and Daniel Loeb saw their main funds lose roughly 5 percent in August during a dramatic market sell off, two people familiar with their returns said on Monday. Einhorn's

  3. Opalesque Exclusive: When the SEC calls, fund managers need to get out of their own way[more]

    Bailey McCann, Opalesque New York: New pressure is hitting alternative investment funds from all angles. So far this month both hedge fund and private equity players have seen enforcement actions, and subsequent fines over fees, disclosures, and misleading statements. Citi one of the biggest

  4. Fortress hedge fund manager David Dredge says markets trouble on the way[more]

    From AFR.com: David Dredge of global hedge fund Fortress has built a career studying, predicting and protecting against the world's major financial crises. The recent convulsions in global sharemarkets are "just the beginning" of a painful adjustment as money drains from the emerging market economie

  5. North America - Puerto Rico agency plans talks with hedge fund creditors[more]

    From WSJ.com: Puerto Rico’s Government Development Bank is planning to begin confidential debt-restructuring talks with hedge funds that own its bonds as early as next week, said a person familiar with the matter. The parties are set to discuss a plan under which the investors would lend additional

 

banner