The Hedge Fund Association said it is adamantly opposed to the establishment of a self-regulatory organization for hedge funds, which the Government Accountability Office is currently investigating under the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
HFA said an SRO would be redundant and hamper industry growth and that current registration requirements are adequate
“Hedge funds still represent the best outlet for entrepreneurship in the financial industry,” said Ron Geffner, vice president of the Hedge Fund Association. “By continuously raising the regulatory costs for a fund to operate, the government is making it harder and harder for smaller fund managers to stay in business. It is the HFA’s mission to speak up for the hedge fund industry and for entrepreneurship in finance. That is why we simply cannot stay silent when such a potentially damaging provision is still under consideration by regulators.”