Thu, Aug 21, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

AIMA supports JOBS Act

Friday, July 13, 2012
Opalesque Industry Update - The Alternative Investment Management Association (AIMA), the global hedge fund industry association, has expressed support for the elimination of the ban on general solicitation and advertising by hedge fund managers in the US, but has said that only accredited investors should continue to be allowed to invest in hedge funds.

In its response to the US Securities and Exchange Commission (SEC) ahead of the SEC’s implementation of the JOBS (Jumpstart Our Business Startups) Act, AIMA said it supported the legislation’s purpose of improving access to capital and enhancing economic growth by reducing unnecessary regulatory burdens.

In particular, AIMA said it strongly supports the elimination of the prohibition on general solicitation and advertising for issuers raising capital from accredited investors, as long as all buyers are accredited investors. SEC rules should require the issuer to take reasonable steps to verify that purchasers of the securities are accredited investors.

AIMA CEO Andrew Baker said: “With the advent of greater regulation, transparency and oversight of the hedge fund industry, we believe that the time has come to bring the general solicitation and advertising regulations in the US more in line with what we see as more flexible marketing and advertising regimes adopted elsewhere in the world.

“But while the time may be right for these restrictions to be lifted, we strongly support the requirement that only accredited investors be allowed to invest in hedge funds engaged in broad marketing and advertising efforts. We are hopeful that the SEC will propose rules to implement this provision to achieve the capital-raising goals that the US Congress established.”

AIMA also expressed its support for the positions on the JOBS Act articulated by the Managed Funds Association (MFA) in its submissions to the SEC.

(press release)

To download AIMA’s response to the Securities and Exchange Commission regarding the JOBS Act, click here: www.aima.org/objects_store/aima_response_sec_jobs_act_31052012_-_submitted_150612.pdf

www.aima.org

Bg

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. Institutions – Texas Employees sets 2015 tactical plan for alternatives, CalPERS' real estate consultant cautions the pension fund's investment committee, Why Sunsuper likes hedge funds[more]

    Texas Employees sets 2015 tactical plan for alternatives From PIOnline.com: Texas Employees Retirement System will invest in up to four new hedge funds in the next fiscal year, which begins Sept. 1. Trustees approved 2015 tactical investment plans for the hedge fund, private equity and in

  2. Private equity follows hedge funds into reinsurance for long-term capital[more]

    From Artemis.bm: It’s not just hedge funds that are entering the insurance and reinsurance market in search of so-called long-term capital to put to work in their strategies, private equity firms targeting the space are also seeking opportunities to add assets under management. The entry of large pr

  3. North America – New York City’s next hot neighborhoods targeted with property funds[more]

    From Bloomberg.com: New York’s real estate world is filled with tales of ordinary people who bought property decades ago and saw values skyrocket to the millions. Seth Weissman is seeking investors to get in early on the next hot neighborhoods. The veteran of Goldman Sachs Group Inc. and hedge

  4. Investing – George Soros bets $2bn on stock market collapse, Warren Buffett's Berkshire reveals Charter stake, cuts DirecTV, Hedge funds lusting to cash out of MGM, Top hedge fund managers are buying Ally Financial, Hedge funds dumped 5m Herbalife shares in Q2, Paulson & Co hedge fund ups Puerto Rico real estate bet, Netflix Inc., Citigroup Inc, Google Inc are top new picks in Tiger Management’s 13F[more]

    George Soros bets $2bn on stock market collapse From Newsmax.com: Billionaire investor George Soros has increased his financial bet that U.S. stocks will collapse to more than $2 billion. The legendary hedge fund manager has been raising his negative bet on the Standard & Poor's 500 Inde

  5. Investors now net short S&P500 and increased Russell shorts, technicals suggest further selling[more]

    Komfie Manalo, Opalesque Asia: Market Neutral funds increased their market exposure to -1% net short from -6% net short last week, according to Bank of America Merrill Lynch’s Hedge Fund Monitor. The report also added