Mon, Jun 27, 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. Opalesque Roundup: Hedge funds shrink as liquidations outpace new launches in Q1: hedge fund news, week 27[more]

    In the week ending 17 May, 2016, HFR said hedge fund liquidations declined narrowly to begin 2016 after rising sharply to conclude 2015, as investors positioned f

  2. Europe - Hedge funds keep powder dry over big Brexit bets, Hedge funds sense profit in Europe shock waves after Brexit vote, Soros warns Brexit may cause pound plunge worse than Black Wednesday, After Brexit: What will happen if Britain votes to leave the UK?[more]

    Hedge funds keep powder dry over big Brexit bets From FT.com: Hedge funds are shying away from big bets on Brexit, with many unwilling to risk further losses having already suffered a painful first half of the year. With the outcome of a UK vote on the country’s membership of the Europea

  3. News Briefs - ’Flash Boys’ get green light to launch stock exchange, Pimco says ‘storm is brewing’ in U.S. commercial real estate, Bankers get ready to rumble at Hedge Fund Fight Night, AIMA Australia celebrates 15th anniversary[more]

    ’Flash Boys’ get green light to launch stock exchange In an investing environment ruled by fast, the newest U.S. public stock exchange is banking on slow. Well, slower. IEX Group, which won Securities and Exchange Commission approval on Friday to go head-to-head with the New York Stock E

  4. Blackstone buys minority stake in New York-based credit hedge fund Marathon[more]

    Benedicte Gravrand, Opalesque Geneva: Blackstone Strategic Capital Holdings Fund, a vehicle managed by Blackstone Alternative Asset Management (BAAM), has acquired a passive, minority interest in Marathon Asset Management, for an undisclosed sum. Based in New York,

  5. Investing - Soros, Druckenmiller among hedgies profiting in market plunge, Hedge funds were most bullish on bonds since 2004 before Brexit, Surprise Brexit vote unleashes scramble for dollars, High-yield hit on Brexit but no panic selling, Scientist turned hedge fund founder lured to pound, euro, Hedge fund avoids commodities, posts big gains[more]

    Soros, Druckenmiller among hedgies profiting in market plunge From HITC.com: Bullish positions in gold and volatility and well-timed short bets on China and emerging markets, among other areas, were some of the trades that benefited hedge funds on Friday as markets digested Britons' s