Tuesday, 28 April 2015
Last updated 1 hour ago
Aug 26 2010 | 11:58am ET
The Alternative Investment Management Association is heading across the Atlantic for a bit of lobbying in Washington, D.C.
The London-based industry group plans to meet with U.S. policymakers and supervisors next month about the implementation of the recently-enacted Dodd-Frank financial regulation overhaul, it said in a statement. The group hopes to talk with the powers-that-be about hedge fund registration and reporting, the impact of the legislation on smaller hedge fund managers and the Volcker rule, which restricts banks’ alternative investments activities, among other topics.
“AIMA, as the global hedge fund association, has historically worked closely with U.S. and international supervisors, and we look forward to engaging with U.S. authorities in September and beyond regarding numerous issues related to the implementation of the Dodd-Frank Act, as well as its interaction with reforms in other jurisdictions,” Todd Groome, chairman of AIMA, said.
“AIMA supports increased dialogue with supervisors, and the goal of improved trading and market transparency by the industry,” Groome added. “That includes periodic reporting of data to supervisors so they may better assess broad market and potential systemic risks. Hedge funds do not present a systemic risk, but our industry can contribute to the analysis of systemic risk and financial stability.”
The AIMA representatives also plan to raise regulation of over-the-counter derivatives, which it supports, possible tax implications and global regulatory consistency.
“From the outset, we have also called for a globally consistent and coordinated regulatory framework,” Groome said. “Many of the measures that feature in the Dodd-Frank Act are being discussed in other jurisdictions, and it is desirable that there is a large degree of consistency in terms of approach and implementation. If that consistency is not achieved it could lead to unnecessary duplication and increased costs.”
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…