MFA Spent $1.4 Million On Lobbying

Jun 8 2010 | 10:32am ET

The Managed Funds Association spent almost $1.4 million in the first quarter lobbying Congress and regulators on behalf of the hedge fund industry.

The sum, $300,00 more than the group spent in the fourth quarter and nearly double what it spent a year ago, came as strict new financial regulations were being fashioned by the U.S. Senate. In January, President Barack Obama announced his support for the so-called Volcker rule, which would bar banks from the alternative investments industry as well as proprietary trading. The president also called for a new consumer financial protection agency.

The latter agency, as well as new rules covering derivatives trading, was the subject of some of the MFA’s lobbying to members of Congress, the Commodities Futures Trading Commission, Internal Revenue Service and Securities and Exchange Commission.

The MFA also lobbied the Departments of Labor and the Treasury, according to a filing with the House of Representatives clerks’ office.


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Vortic: Making Great American Watches Again

Jul 25 2016 | 6:29pm ET

If you are compelled by stories of entrepreneurial vision & drive, or simply...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...