Comment Letter to Sen. Christopher Dodd and Sen. Richard Shelby Regarding the Restoring American Financial Stability Act of 2010

MFA today sent a letter to U.S. Senate offices regarding the Restoring American Financial Stability Act of 2010. MFA supports many key objectives of the legislation including, promoting greater transparency in the financial system; creating a systemic risk supervisory regime to head off future financial crises before they arise; strengthening investor protections including the mandatory registration of all investment advisers to private funds; and, enhancing the supervision and transparency of the over-the-counter (OTC) derivatives market. While we support the provisions in S. 3217 that take a thoughtful approach to accomplishing these important and necessary policy goals the letter expresses our concern with certain measures found in various titles of the legislation, which we believe may be harmful to investors, U.S. financial and capital markets, and our broader economy.