Alternative Investment Management Association
Hedge Fund Association to Meet Policymakers in Washington
Earlier this week we talked about a trade group representing hedge funds, now the Alternative Investment Management Association, another hedge fund association, will meet with US policymakers in September. The group, which represents over one thousand corporate members in 40 countries managing over 75% of total hedge fund assets, will meet to discuss the Dodd-Frank Act and how various measures in the Act can be applied consistently.
Hedge funds have generally heaved a sigh of relief when the financial regulatory reform bill was passed late last month, as the more controversial clauses involving the industry were left out of the legislation process. However, industry participants still have concerns over the implementation of the reform as details have yet to be spelled out.
"The industry is not sure about the scope and frequency of new record-keeping and reporting requirements. All of this is subject to detailed rule making that is in the process of being hammered out," said Kelli Moll, a partner with Schulte Roth & Zabel LLP, a law firm serving over 250 hedge fund managers in the U.S. as well as in Europe.
One key area of focus in the September meetings, AIMA said, is over-the counter derivatives--a market that has until now developed largely free of regulation. Source
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