Managed Funds Association Lobbying
Hedge Fund Group Spends Nearly $1 Million Lobbying in Q1
Hedge funds spent an impressive sum lobbying the government in Q1 of 2011. The Managed Funds Association, a hedge fund trade association, spent nearly $950,000 lobbying federal officials overseeing the implementation of the financial regulation signed into law almost a year ago. The nearly $1 million spent is actually a drop from the first quarter of 2010.
The sum the Managed Funds Association spent was down from the $1.37 million it spent a year earlier but up from the $670,000 spent in last year's fourth quarter.
The Managed Funds Association represents hedge funds, lightly regulated investment pools whose investors primarily include wealthy individuals, and institutional clients such as pension funds and endowments.
It lobbied on implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which tightened restrictions on banks and Wall Street and created the Consumer Financial Protection Bureau. The Managed Funds Association also lobbied on a mortgage relief program and registration requirements for private equity fund advisers, according to an April 20 filing with the House clerk's office.
In addition to Senators and members of the House, the association lobbied the Securities and Exchange Commission, the Department of Treasury and the Commodity Futures Trading Commission. source
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