MFA Submits Joint Letter To SEC Requesting An Extension Of The Comment Period For Private Fund Advisers Rule
MFA submitted a joint comment letter with the Investment Adviser Association, Loan Syndications and Trading Association, Securities Industry and Financial Markets Association, American Investment Council, Alternative Credit Council, U.S. Chamber of Commerce, Structured Finance Association, National Venture Capital Association, Small Business Investor Alliance, National Association of Investment Companies, and The Real Estate Roundtable to the SEC in response to the Private Fund notice of proposed rulemaking (NPRM).
In the letter, the Associations requested an extension of the comment period for the Private Fund NPRM until 120 days after the Federal Register publication. In addition, the Associations requested an extension of the comment period for the Form PF NPRM of 60 days.
The Associations argue the public would be best served by a reasonable time for commenting on these significant NPRMs as it would allow for well-developed suggestions and relevant information. This will undoubtedly assist the Commission in achieving its goals while reducing unintended or unnecessary regulatory burdens. Indeed the Associations highlight that, in the short comment periods provided, it simply is not practical to conduct and submit the analyses that the Commission itself has requested and properly recognizes are material to understanding the proposals’ impacts.