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MFA wants SEC to exclude private funds from new ‘dealer’ proposals

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The Managed Funds Association (MFA), the trade association for the alternative asset management investment industry, today submitted a comment letter to the US Securities and Exchange Commission (SEC) in response to its proposed rule to redefine and expand the definitions of “dealer” and “government securities dealer.”

The Managed Funds Association (MFA), the trade association for the alternative asset management investment industry, today submitted a comment letter to the US Securities and Exchange Commission (SEC) in response to its proposed rule to redefine and expand the definitions of “dealer” and “government securities dealer.”

The MFA’s letter emphasises that the rule would have unintended consequences for institutional investors and markets and calls on the Commission to exclude private funds and their advisers from the proposal.

The MFA asserts that private funds and their advisers are already subject to regulations that address the Proposal’s main objectives. From the letter:

The MFA argues that many private funds would reduce their trading activity or leave the Treasury markets altogether, leading to unintended consequences for investors and markets. From the letter:

The is calling on the Commission to hold on to the proposal until further analysis can be completed. 

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