The HFA Announces Opposition To 'Costly and Redundant' Regulation

Nov 5 2010 | 8:32am ET

The Hedge Fund Association today announced its opposition to the creation of a hedge fund self-regulatory organization. The Government Accountability Office  is currently investigating the feasibility and benefits of creating such an organization in accordance with 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,” said David Friedland president of the Hedge Fund Association and president of Magnum U.S. Investments, Inc.  “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.”

In a statement released today, the HFA is urging hedge fund industry participants to join forces to oppose what could be another wave of what they say is costly and redundant regulation.

“Hedge funds still represent the best outlet for entrepreneurship in the financial industry.  By continuously raising the regulatory costs for a fund to operate, the government is making it harder and harder for smaller fund managers to stay in business,” said Ron Geffner, vice president of the Hedge Fund Association and a partner at law firm Sadis and Goldberg.  “It is the HFA’s mission to speak up for the hedge fund industry and for entrepreneurship in finance.  This is why we simply cannot stay silent when such a potentially damaging provision is still under consideration by regulators.” 


In Depth

Whisky Business: The Ultimate Liquid Alternative Investment

Sep 15 2014 | 7:02am ET

David Robertson knows his single-malt whisky—he was the Master Distiller at the...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

The Cult of Loss Aversion: A Call to Rethink Risk in Global Macro Investing

Sep 4 2014 | 5:45am ET

In the wake of a traumatic loss, whether it is financial or personal, it is just...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

In search of the ‘new normal’ at the Fed

The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.