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Industry Initiatives
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MFA leads the alternative investment industry in the development of standards of excellence in business conduct and operational practices that promote viable markets, investor protection and the prevention of systemic risk.
MFA is widely revered as the originator of industry best practices through its seminal guidance, Sound Practices for Hedge Fund Managers, which provides a principles-based approach to strengthening business practices. The Association is also well known for its groundbreaking Preliminary Guidance for Hedge Funds and Hedge Fund Managers on Developing Anti-Money Laundering Programs, which set the standard on AML in response to the U.S. PATRIOT ACT.
As the global derivatives markets continue to expand and increase in volume, MFA promotes robust vigilance among industry participants with respect to operational efficiencies in the global derivatives markets.
Recent initiatives include the following: | 6.2.2009 |  | MFA, through its participation in the Operations Management Group (OMG), joined the Major Dealers in presenting a letter to global regulators establishing new commitments to address key concerns in the OTC derivatives markets. In particular, the letter commits that its signatories will maintain support of commercially viable centralized clearing platforms, universally report all OTC derivatives trades and promote sound business practices. MFA issued a press release announcing the new commitments identified in the letter. A plain-language summary and chart of the letter’s commitments were issued by its signatories. | | 3.31.2009 | | MFA takes steps to restore investor confidence with enhanced Sound Practices. | | 10.31.2008 | | MFA, through its participation in the Operations Management Group (OMG), joined the 16 Major Dealers in presenting a letter to industry regulators that establishes a series of strategic roadmaps and seven high level goals to further improve front-to-back office processing of OTC derivatives and to mitigate risk across the OTC derivatives market. The letter reaffirmed the continued cooperation between the buy-side institutions of the OMG and the Major Dealers in confronting challenges posed by recent market events. The letter also addressed counterparty credit risk concerns by setting forth commitments regarding central counterparty clearing, electronic novation processing and collateral management. MFA issued a press release announcing the new commitments identified in the letter. | | 7.31.2008 | | MFA announced that it is joining the 17 major derivatives dealers as a signatory to a letter to global regulators that develops new commitments to improve operational efficiency across OTC derivatives, as well as commodities and foreign exchange markets and collateral management. Click here for a copy of the letter and click here for a copy of the supplement to the letter. | | 6.16.2008 | | MFA announced today that it submitted comments on the Best Practices Reports released by the two Committees appointed by the U.S. President’s Working Group on Financial Markets (PWG). MFA's letter on the PWG Asset Managers' Committee Report MFA's letter on the PWG Investors' Committee Report The Asset Managers' Committee Report and the Investors' Committee Report provide guidance for establishing best practices standards for the hedge fund industry and its investors, respectively. The Reports were released on April 15, 2008. | | 6.9.2008 | | MFA, ISDA and SIFMA delivered an implementation plan that they developed jointly to help enable buy-side market participants to operate consistently with the relevant goals outlined in the March 27th letter to the New York Fed. The implementation plan consists of three fundamental strategies: (1) communication and education, (2) facilitation and use of electronic confirmation and novation platforms, and (3) electronic confirmation matching improvement.
Click here for a copy of the implementation plan.
Click here for the Summary of the 2008 Industry Commitments.
Click here for the final agenda for the MFA, ISDA and SIFMA live session.
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Industry Pulse
- March 12, 2010
The Wall Street Journal
- Gamble on Financial Overhaul
- March 12, 2010
The Wall Street Journal
- EU Advances Draft Rules for Hedge Funds, Amid U.S. Objections
- March 11, 2010
The New York Times
- Democrats Push Ahead on Finance Bill
- March 11, 2010
Reuters
- SEC head prods Congress on derivatives rules
- March 11, 2010
The New York Times
- The E.U. and U.S. Quarrel Over Hedge Funds
- March 9, 2010
Politico
- Showdown looms for financial reform
- March 8, 2010
The Financial Times
- Bair seeks upfront levy on big banks
- March 8, 2010
Reuters
- Senators wrangle over OTC derivatives exemptions
- March 6, 2010
Reuters
- In Europe, Volcker makes case for bank trading limits
- March 5, 2010
The Wall Street Journal
- Six Steps Toward Financial Reform
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MFA Calendar
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