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MFA submits comment letters to PWG on best practices for the hedge fund industry Managed Funds Association (MFA) announced yesterday that it submitted comments on the Best Practices Reports released by the two Committees appointed by the U.S. President's Working Group on Financial Markets (PWG). MFA's comments were filed on Friday, June 13, 2008.

The Asset Managers' Committee Report and the Investors' Committee Report provide guidance for establishing best practices standards for the hedge fund industry and its investors, respectively. The Reports were released on April 15, 2008.

Richard H. Baker, MFA President and CEO, said, "MFA has reviewed thoroughly the Asset Managers' Committee Report and the Investors' Committee Report, and we are broadly supportive of both sets of recommendations, which are comprehensive and substantive. Our letters note the significant similarities between the Reports and MFA's Sound Practices for Hedge Fund Managers, asks for clarification on certain recommendations and makes suggestions for the Committees to consider as they finalize their Reports. We are currently in the process of revising Sound Practices to incorporate the recommendations in the PWG Reports, and we are in full support of the PWG's ongoing efforts." Corporate webpage: Source

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