WEST PALM BEACH, FL (HEDGECO.NET) – The Alternative Investment Management Association (AIMA), the leading global hedge fund and alternative investment association, has filed its response on behalf ofits members with regard to the Securities and Exchange Commission�s (SEC) proposed new rule requiring registration of most hedge fund advisers under the Investment Advisers Act of 1940.
AIMA wants the SEC to exempt fund advisers who are already subject to regulation in their home jurisdictions from the burdensome and costly new regulations. AIMA said, it �does not, as a rule, usually involve itself in lobbying activities in the USA. However, given the likely impact on AIMA�s global membership of the registration requirements proposed by the SEC, AIMA has participated in the consultation offered by the SEC. We have repeated our request that there be exemptions for advisers who are already subject to efficient regulation in their home jurisdiction and /or where they operate�.
The organization went on to argue that �The considerable and onerous likely impact on non-US fund managers and other interested parties, in terms of additional and significant regulatory burden and costs, has caused us to make representations to the SEC; almost all non-US hedge fund managers have US investors in their funds�
In earlier submissions, AIMA also supported the arguments made by non-US interest who also object to such regulation which they deem undesirable, they also think such measures are �possibly duplicative regulatory, examination and enforcement regimes and requirements.�
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: [email protected]
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