MFA submitted two letters to the new SEC leadership requesting relief earlier this year
Washington, D.C. — MFA President and CEO, Bryan Corbett, released the following statement on the U.S. Securities and Exchange Commission (SEC) delaying the implementation of the Short Sale Reporting rules today. The action comes after MFA sent Acting Chair Mark Uyeda two letters earlier this year on why the compliance date should be delayed.
“MFA appreciates the SEC delaying the implementation date of the Short Sale Reporting rules. MFA and the industry engaged with Acting Chairman Mark Uyeda on his first day in office to highlight the harms of the rushed implementation timeline. Granting relief will give alternative asset managers appropriate time to build new systems, test them, and receive interpretive guidance from SEC staff on outstanding compliance questions. By engaging thoughtfully with MFA on the unnecessarily rushed implementation timeline, the SEC is turning the page on the antagonistic relationship the previous Chair had with the industry. This will result in more effective rulemakings that better protect markets and investors while not harming innovation or economic growth. MFA looks forward to continuing to work constructively with the SEC on policies that embrace the role of alternative asset managers, ensure the U.S. capital markets remain the strongest in the world, and enhance economic prosperity for all Americans.” — Bryan Corbett, MFA President and CEO.
See MFA’s letter to Acting Chairman Uyeda on Day 1 here.
MFA’s letter on the compliance concerns and relief request with respect to the Short Sale Reporting rules implementation timeline is available here.
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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.
