Fri, Oct 28, 2016
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:


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. Investing - Fund set up to buy illiquid hedge fund stakes finds plenty of opportunities, Lansdowne's Roden says likes animal genetics company Genus[more]

    Fund set up to buy illiquid hedge fund stakes finds plenty of opportunities From As ValueWalk reported back in February, earlier this year Andrew Lawrence set out to raise $250 million to $500 million for a fund that will buy stakes in hedge funds that have suspended redem

  2. Other Voices: Don’t mistake style for skill — The impact of style factors on trend follower performance[more]

    By John Dolfin, CFA Chief Investment Officer and Christopher Maxey, CAIA, Senior Portfolio Manager of Steben & Company: Managed futures have become an alternative asset class that is widely used by investors seeking overall portfolio diversification and absolute returns independent of the

  3. Opalesque Roundtable: Style drift, poor communications and credibility fatigue are biggest red flags for hedge funds investors[more]

    Komfie Manalo, Opalesque Asia: Style drift, poor communications and credibility fatigue are the biggest red flags for hedge funds investors, said participants of the latest 2016 Opalesque Investor Roundtable, sponso

  4. Barclay CTA Index down 0.40% in September (+0.10% YTD)[more]

    Managed futures traders lost 0.40% in September according to the Barclay CTA Index compiled by BarclayHedge. The Index is up 0.10% year to date. “The US Fed, in spite of its hawkish tone, opted to hold rates steady which roiled financial markets,” says Sol Waksman, founder and president of BarclayHe

  5. Opalesque Exclusive: Meet Emma, your friendly A.I. helper[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Shaunka Khire, who co-designed an artificial intelligence (AI) robot called EMMA/MANSI, talks to Opalesque