After years of being made scapegoats, HFs finally capitulate
May 17th, 2009 | Filed under: Hedge Fund Regulation, Today's Post
Although many hedge fund managers bristle at the notion of regulation, there is a growing view that compulsory registration would bring with it a major silver lining: it would remove a key reason why hedge funds have become scapegoats for just about everything.
Financial Planning reports on the “reversal” of the Managed Funds Association (MFA) and the Alternative Investment Management Association (AIMA) last week when they testified in from of the US Congress.
In AIMA’s May 7 testimony, Executive Chairman Todd Groome told Congress that he…
“….supports the registration of investment managers, including hedge fund managers, with the appropriate national authorities in the country in which they are principally based…Such a process of registration leads to a supervisory relationship between managers and the appropriate national supervisor, creates a relationship and dialogue which supports greater understanding of hedge fund activities and allows for increased oversight of markets more generally.”
And in his testimony, the MFA’s Richard Baker said: More…
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