Wednesday, 24 August 2016
Last updated 7 hours ago
Jun 15 2009 | 1:32am ET
When it comes to battling regulation on Capitol Hill, the hedge fund industry isn’t messing around.
The Managed Funds Association, the top lobbying group for hedge funds in the U.S., has hired a top lobbying firm to press its interests in Washington, The New York Times reports. Brownstein Hyatt Farber Schreck has been retained by the MFA to help ensure that whatever new rules are adopted are to the liking of the industry.
Brownstein Hyatt will lobby for the MFA on several bills that could affect hedge funds that are currently wending their way through Congress, including measures that would give the Securities and Exchange Commission the power to force hedge funds to register, restrict so-called abusive energy trading, empower the Commodity Futures Trading Commission to regulate derivatives and increase taxes on hedge fund managers.
The lobbying firm’s point person on the hedge fund case is Carmencita Whonder, who until two years ago was a legislative aide to Sen. Charles Schumer (D-N.Y.), covering banking issues.