Results
MFA - Managed Funds Association
11/21/2024 | Press release | Distributed by Public on 11/21/2024 12:12
MFA statement on court vacating Dealer Rule
Washington, D.C. - MFA President and CEO Bryan Corbett issued the following statement after the United States District Court Northern District of Texas Fort Worth Division vacated the Dealer Rule:
"The Court ruling affirms what MFA has maintained all along - alternative asset managers are not dealers. Today's decision will benefit markets, fund managers, and investors, including pensions, foundations, and endowments. The SEC's rushed rulemaking resulted in a final rule that was unworkable, ignored that dealers have customers, and exceeded the Commission's statutory authority."
"MFA looks forward to working with the next SEC Chair to pursue policies that support robust capital markets, change the adversarial relationship between policymakers and market participants, and embrace alternative asset managers as drivers of economic growth."
You can read the court's full decision here.
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About the global alternative asset management industry
The global alternative asset management industry, including hedge funds, credit funds, and crossover funds, has assets under management of $5.5 trillion (Q3 2023). The industry serves thousands of public and private pension funds, charitable endowments, foundations, sovereign governments, and other global institutional investors by providing portfolio diversification and risk-adjusted returns to help meet their funding obligations and return targets.
About MFA
Managed Funds Association (MFA), based in Washington, DC, New York, Brussels, and London, represents the global alternative asset management industry. MFA's mission is to advance the ability of alternative asset managers to raise capital, invest, and generate returns for their beneficiaries. MFA advocates on behalf of its membership and convenes stakeholders to address global regulatory, operational, and business issues. MFA has more than 180 member fund managers, including traditional hedge funds, credit funds, and crossover funds, that collectively manage over $3.2 trillion across a diverse group of investment strategies. Member firms help pension plans, university endowments, charitable foundations, and other institutional investors to diversify their investments, manage risk, and generate attractive returns over time.