The SEC has recommended that the Commissioners consider requiring all hedge fund managers to register as investment advisors (RIAs). The MFA believes that there is currently sufficient regulatory oversight of the hedge fund industry. The MFA, headquartered in Washington, DC, is the trade association representing professionals who specialize in alternative investment strategies including hedge funds, funds of funds and futures funds.
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MFA believes that accredited investors and qualified purchasers are sufficiently sophisticated to make prudent investment choices, including investing in hedge fund strategies. The Association said it is pleased that the staff report recommends that the Commission review whether the benefits of registration outweigh the burdens, adding that requiring all hedge funds to register as RIAs places a significant and unnecessary burden on the SEC as well as investors.