Wednesday, 26 October 2016
Last updated 8 min ago
Aug 24 2010 | 11:39am ET
The U.S. hedge fund industry’s main interest group cut back on its lobbying in the second quarter, even as the U.S. financial regulation overhaul neared its endgame on Capitol Hill.
The Managed Funds Association spent $980,000 lobbying in the second quarter, primarily on the matter of the now-passed Dodd-Frank financial reform law, according to a filing with the House of Representatives clerk’s office. The group also spoke with lawmakers and regulators about proposed new rules covering derivatives and credit default swaps, hedge fund registration and the Consumer Financial Protection Agency.
The group’s second-quarter lobbying cost $30,000 more than it did last year. But the MFA cut its lobbying spending by almost 30% from the first quarter, when it spent $1.37 million.
During the second quarter, the MFA lobbied members of both houses of Congress, the Commodity Futures Trading Commission, the Securities and Exchange Commission, the Department of Labor and the Treasury Department.