Monday, 24 October 2016
Last updated 3 min ago
Nov 1 2006 | 12:57pm ET
There’s a new hedge fund association on the block, and unlike its more established counterparts—the Hedge Fund Association and the Alternative Investment Management Association—this one will focus specifically on the hot topics of compliance and best practices.
The Alternative Investments Compliance Association was recently formed by a group of chief compliance officers from 10 alternative investment firms with an aggregate of over $12 billion in assets under management, as well as hedge fund service provider HedgeOp Compliance.
William Mulligan, Jr., CEO of HedgeOp Compliance, declined to name the investment firms involved in the organization, but added that once the organization is up and running later this year it will release a representative list of members.
In an email to FINalternatives, Mulligan wrote that the new organization is different from others out there because of “its surgical focus on compliance and regulatory issues applicable to alternative investment firms, with special attention to best practices for CCOs.”
He added that the organization, which will initially be focused on U.S. regulations, will also act as a strong advocate for alternative investment firms as it relates to the issues addressed by their CCOs and compliance professionals.
“We fully expect that the AICA will be a force in working with regulatory bodies to make compliance and regulatory requirements applicable to its members as efficient and streamlined as possible,” he wrote.