Washington, D.C. — MFA issued the following statement from President and CEO, Bryan Corbett, in response to the Securities and Exchange Commission’s (SEC) appeal of the U.S. District Court’s decision to vacate the unlawful Dealer Rule.
“MFA challenged the Dealer Rule because alternative asset managers are not dealers. The Court affirmed our position and vacated the illegal final rule. The SEC Dealer Rule ignored that dealers have customers and exceeded the Commission’s statutory authority. The SEC’s appeal jeopardizes the benefits the Court’s decision provided capital markets, fund managers, and investors.”
“MFA looks forward to working with a new Acting SEC Chair to unwind the SEC’s ill-advised appeal, change the adversarial relationship between policymakers and market participants, and support robust capital markets.” — Bryan Corbett, MFA President and CEO
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About the global alternative asset management industry
The global alternative asset management industry — including hedge funds, private credit funds, and hybrid funds — serves thousands of public and private pension funds, charitable endowments, foundations, and other global institutional investors. The industry provides portfolio diversification and risk-adjusted returns to help meet their funding obligations and return targets throughout the economic cycle.
About MFA
Managed Funds Association (MFA), based in Washington, D.C., New York City, Brussels, and London, represents the global alternative asset management industry. MFA’s mission is to advance the ability of alternative asset managers to raise capital, invest it, 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 180 fund manager members, including traditional hedge funds, private credit funds, and hybrid funds, that employ a diverse set of investment strategies. Member firms help pension plans, university endowments, charitable foundations, and other institutional investors diversify their investments, manage risk, and generate attractive returns throughout the economic cycle.
