Withdrawing appeal will benefit markets, investors, and the economy
Washington, D.C. — MFA issued the following statement in response to the U.S. Securities and Exchange Commission (SEC) withdrawing its appeal of the U.S. District Court’s decision to vacate the unlawful Dealer Rule.
“The SEC’s withdrawal of its appeal of the Dealer Rule decision is consistent with its historical interpretation of the securities laws. Withdrawing the appeal turns the page on the Gensler era at the SEC and benefits markets, investors, and the economy by decreasing business risk, the cost of capital, and systemic risk. As a next step, the SEC should review its application of the dealer definition in outstanding enforcement cases to ensure the Commission is not exceeding its statutory authority. MFA appreciates the SEC withdrawing its appeal and looks forward to working constructively on policies that strengthen U.S. capital markets, embrace alternative asset managers as important market participants, and drive economic growth.” – 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.
