Hedge Fund Focus

President of MFA Issues Response to IOSCO’s Publication: “Hedge Funds Oversight: Final Report”

Managed Funds Association (MFA) President and Chief Executive Officer Richard H. Baker, issued the following statement in response to the International Organization of Securities Commissions’ (IOSCO)Technical Committee publication today of Hedge Funds Oversight: Final Report.

“MFA shares the concerns of regulators around the world regarding the crisis in the financial markets. We also share their commitment to action that will help restore stability and confidence to our markets in the near-term, and efforts to mitigate systemic risks and improve market integrity going forward.  MFA will continue to work constructively with IOSCO, the G20 and the Financial Stability Board, moving forward toward the goal of fashioning a smart, comprehensive and consistent regulatory system.”

MFA President Emeritus and Special Counsel, International Affairs, John G. Gaine, added,

“MFA appreciates The IOSCO Technical Committee report, which contains six high level principles that will enable securities regulators to address the regulatory and systemic risks both in their own jurisdictions and in a collective way that will support a global, harmonized approach to oversight of hedge fund advisers. We agree that regulators should have authority to co-operate and share information, where appropriate, in order to facilitate an intelligent and efficient oversight of globally active managers. We look forward to reviewing the full text of the report and believe it represents the basis for a continued dialogue toward the shared goal of a smart approach to the regulation of fund advisers.”

About Managed Funds Association:

MFA is the voice of the global alternative investment industry. Its members are professionals in hedge funds, funds of funds and managed futures funds, as well as industry service providers Established in 1991, MFA is the primary source of information for policy makers and the media and the leading advocate for sound business practices and industry growth. MFA members include the vast majority of the largest hedge fund groups in the world who manage a substantial portion of the approximately $1.5 trillion invested in absolute return strategies. MFA is headquartered in Washington, D.C., with an office in New York.