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MFA submits supplemental comment letter in response to SEC’s Private Fund Advisers rule

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The Managed Funds Association (MFA), a trade association for the global hedge fund and alternative asset management industry, has submitted a second comment letter to the US Securities and Exchange Commission (SEC) re-emphasising fundamental flaws with the proposed Private Fund Adviser rules.

The MFA’s letter provides further evidence of how the proposed rule will harm investors and the inadequacy of the SEC’s economic analysis.
The letter highlights the unintended consequences of the rule for institutional investors—including pensions, foundations, and endowments and also draws attention to the many recently proposed rules governing the private fund industry, arguing that the SEC has not fully considered the aggregate impact of these rules.
The MFA makes clear that the proposed rules will harm investors, despite the Commission’s expressed intention to protect them, and also argues that the proposed rules will have a disproportionately negative impact on small and newly-formed advisers. 

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