Thursday, May 7, 2009

Alternative Investment Body Supports Investment Advisers Registration

Speaking in front of the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, Richard H. Baker, the Managed Funds Association (MFA) President and CEO, stated that hedge funds have an "aligned interest with other market participants, including retail investors and policy makers, in reestablishing a sound financial system". As part of his testimony, Baker voiced his support for regulation of all private investment firms and shared his view "that mandatory SEC registration for advisers of private pools of capital is one of the key regulatory reform proposals being considered by policy makers."