Washington, DC – MFA President and CEO Bryan Corbett issued the following statement on the Securities and Exchange Commission’s (SEC) adoption of Rule 9j-1:
“MFA supports the SEC’s objectives of preventing fraud and manipulation in the security-based swap market and appreciates the substantial changes made to the original proposal. The changes to the final rule address MFA’s concerns and provide a safe harbor that recognizes the uniqueness of the security-based swap market and its market participants.”
“However, we remain concerned that the final rule’s overly broad anti-manipulation provision will deter good faith, ordinary-course activities in security-based swap and underlying cash markets, leading to less liquidity in both markets
About the Global Alternative Asset Management Industry
The global hedge fund and alternative asset management industry, including hedge funds, credit funds, and crossover funds, has assets under management of $4 trillion (Q4 2022). The industry serves thousands of public and private pension funds, charitable endowments, foundations, sovereign governments, and other global institutional investors by providing portfolio diversification and risk-adjusted returns to help meet their funding obligations and return targets.
About the Managed Funds Association
Managed Funds Association (MFA), based in Washington, DC, New York, and Brussels, represents the global alternative asset management industry. MFA’s mission is to advance the ability of alternative asset managers to raise capital, invest, and generate returns for their beneficiaries. MFA advocates on behalf of its membership and convenes stakeholders to address global regulatory, operational, and business issues. MFA has more than 170 member firms, including traditional hedge funds, credit funds, and crossover funds, that collectively manage nearly $2.2 trillion across a diverse group of investment strategies. Member firms help pension plans, university endowments, charitable foundations, and other institutional investors to diversify their investments, manage risk, and generate attractive returns over time.