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HFA Applauds SEC JOBS Act Final Rules


Date: Friday, July 12, 2013
Author: Brian Bollen's Blog

The New York-based Hedge Fund Assocation (HFA) has issued a brief reaction to the news that the Securities and Exchange Commission (SEC) has now adopted final rules in connection with the Jumpstart Our Business Startups (JOBS) Act, lifting an 80 year old ban on general solicitation and allowing hedge fund managers to advertise.

The HFA and its members throughout the United States say they applaud the SEC’s decision as a necessary modernization of the securities laws.

“Fundamentally, we believe that these new rules will: (i) increase public transparency regarding the alternative investment industry, including hedge funds; and (ii) facilitate capital formation and ultimately enhance the capital markets. 

“Though the HFA views this development as generally positive, we await publication of the new rules to determine whether particular requirements impose an unnecessary burden on our members. We are in the process of reviewing the text of the final rules, as well as gathering feedback from our members, at which time we will provide a more comprehensive commentary on behalf of the hedge fund industry.

“The HFA previously provided valuable comments to and materially influenced relevant provisions of The Dodd–Frank Wall Street Reform and Consumer Protection Act.”

 

To view the HFA’s prior press releases and comment letters on the JOBS Act click the links below:

 

  • April 5, 2012: Hedge Fund Association Calls Repeal of Advertising Ban “Action Whose Time Has Come”
  • September 13, 2012: Hedge Fund Association Asks SEC for Clear Rules on Verifying Investor Accreditation