Hedge Fund Lobbyists Seek Rollbacks from SEC
The Managed Fund Association (MFA) has urged the U.S. Securities and Exchange Commission (SEC) to repeal or delay key provisions of the agency's transparency agenda for the hedge fund industry.
In a letter to acting SEC Chair Mark Uyeda, the MFA appealed for a six-month delay on the implementation of disclosure requirements aimed at enhancing regulatory oversight. These requirements include reporting short interest and rate of change.
The letter also requested a delay in the implementation of rules mandating hedge funds to disclose their size, asset holdings, and leverage levels. These rules were adopted in 2023 as part of a broader effort to increase transparency within the $5 trillion industry.
The industry's opposition stems from concerns over the prescriptive nature of the rules, which they argue hinder flexibility and innovation. The MFA has also filed lawsuits challenging the SEC's authority to impose such regulations.
Acting Chair Uyeda, known for his critical stance on the SEC's approach to private funds, is yet to comment on the lobbying efforts.