Former SEC Member Named AIMA Chairman

Sep 21 2012 | 11:05am ET

A former Securities and Exchange Commissioner and opponent of stricter hedge fund regulations has joined the Alternative Investment Management Association as its new non-executive chairman.

The London-based lobby group said that Kathleen Casey had succeeded Todd Groome, whose four-year term is expiring. Casey, a Republican, was appointed to the SEC by former President George W. Bush in 2006 and stepped down from the commission last year. She was the only one of the four SEC commissioners to vote against proposing a rule requiring hedge funds to register last year, a rule required by the Dodd-Frank financial regulation law.

Prior to joining the SEC, Casey, a lawyer, spent 13 years on Capitol Hill, working for the Senate Committee on Banking, Housing and Urban Affairs and Sen. Richard Shelby (R-Ala.)

"As we move internationally from a period of legislative drafting to regulatory implementation, her enormous experience will be invaluable," AIMA CEO Andrew Baker said of Casey.

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