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Friday, November 26, 2021

Hedge Fund Association opposes self-regulatory organisation


Date: Monday, November 8, 2010
Author: Emily Pennyman, Hedgeweek.com

The feasibility and benefits of creating such an organisation are currently under investigation by the Government Accountability Office 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,” says David Friedland, president of the Hedge Fund Association and president of Magnum US Investments. “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.”

The Hedge Fund Association is urging regulators to limit hedge fund regulation to the currently established registration requirements and abandon any consideration of a self-regulatory organisation.