Mon, Mar 27, 2017
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. Hedge fund liquidations in 2016 surpass 2009 levels, new launches decline[more]

    Benedicte Gravrand, Opalesque Geneva: Even as the hedge fund industry's total assets exceeded the $3tln milestone last year, hedge fund liquidations increased. So much so that 2016 had the highest number of liquidations since 2008, claims the latest HFR Market Microstructure Report, re

  2. Hedge funds find no joy in macro as returns lag Trump rally[more]

    From Gulfnews.com: In 2017, macro hedge funds were expected to shine. So far? Not so much. It's been a far from impressive first two months for funds that trade around macroeconomic events. Discretionary funds rose just 0.3 per cent through February, according to Hedge Fund Research Inc., while the

  3. Strategies - Billionaire investor Marc Lasry shares how he's playing markets right now, Classic models are failing FX hedge funds desperate for return[more]

    Billionaire investor Marc Lasry shares how he's playing markets right now From CNBC.com: Buy on the prospect of deregulation. Sell on the enactment of deregulation. That's the strategy that billionaire investor Marc Lasry is implementing, according to an interview with CNBC in Las Vegas

  4. Opalesque Exclusive: Aberdeen makes the case for the lower mid-market[more]

    Bailey McCann, Opalesque New York: Aberdeen Asset Management has released a new paper focused on lower mid-market private equity. According to the paper, this segment of the private equity market is gaining popularity with private equity investors that are looking for multiple expansion and less

  5. Hedge funds await outcome of French elections, feel pinch on lower oil prices & weak dollar[more]

    Komfie Manalo, Opalesque Asia: Hedge funds felt the pinch of lower oil prices and weak U.S. dollar as the Lyxor Hedge Fund Index was marginally down as of the week ending 14 March, Lyxor Asset Management said in its Weekly Briefing. The Lyxor He