The Hedge Fund Association, an industry lobby group, is pleased with the decision of the Securities and Exchange Commission to lift an 80-year-old ban on hedge fund advertising.
“We believe that the SEC's actions are a positive step for both accredited investors and hedge fund managers, and will indeed create new jobs," HFA President Mitch Ackles told FINalternatives.
“The new SEC rules will allow hedge funds to advertise responsibly to qualified investors through normal channels. This will foster a new level of transparency for both investors and main street. In addition, we expect managers to begin to open up their websites and engage more with the media. More access to meaningful information on hedge funds, and more sunlight, is a good thing.”
Ackles said his association plans to hold several symposiums and webinars in the next few months to help members adapt to the new advertising rules.