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Aug 17 2011 | 9:54am ET
The U.S. hedge fund industry's primary lobbying group, the Managed Funds Association, kept its lobbying budget essentially flat even as regulators finalized plans for new rules affecting its members.
The MFA spent $1.03 million in the second quarter, which saw the Securities and Exchange Commission adopt the hedge fund registration requirement mandated by last year's Dodd-Frank financial regulation reform law. The group lobbied on the SEC on that matter, as well as others.
It also met with members of Congress, the Treasury Dept. and the Commodity Futures Trading Commission about Dodd-Frank, its implementation and other matters affecting alternative investment firms, including speculative oil trading.
The MFA spent slightly more on lobbying in the second quarter than in the first, according to the filing with the House of Representatives clerk's office. In the first three months of the year, it spent only $950,000. In the second quarter of last year, it spent $1.09 million.