Hedge Funds Lobbying Money
Hedge Fund Trade Group Spends $1.4m Lobbying Regulation
Hedge funds have been trying to dilute stiff regulation proposed by congress. One way they have tried to counter regulation and taxes is through the trade group, Managed Funds Association. This lobbying firm spent $1.4 million in the first quarter of 2010 showing how much the industry wants to avoid regulation of derivatives and other aspects of the industry.
A trade group representing hedge funds spent nearly $1.4 million in the first quarter lobbying federal officials on proposed financial regulations, including stricter oversight of derivatives trading.
The $1.37 million that the Managed Funds Association spent on lobbying was up from the $790,000 that the organization spent in the same quarter a year ago. It also tops the nearly $1.1 million spent in last year's fourth quarter by the lobbying organization for hedge funds, which cater to institutional investors and wealthy individuals.
According to an April 20 filing with the House clerk's office, the Managed Funds Association lobbied on proposals intended to bring greater transparency and accountability to trading of derivatives, private bets between two parties on how the value of assets like crops or measures like interest rates will change in the future.
Related to: Hedge Funds Lobbying Money
Tags: Hedge Funds Lobbying Money, hedge funds lobbying, hedge funds trading group, Managed Funds Association, Managed Funds Association lobbying, lobbyists
