New data also shows private credit funds provided over $1 trillion to American businesses of all sizes — 40% increase from 2022 WASHINGTON, D.C. – Pensions, foundations, and endowments in all 50 states invested nearly $1.3 trillion with hedge funds, according to new 2023 data from MFA’s educational campaign, Investing in Opportunity. The data also shows that private credit funds provided American businesses of all sizes with more than $1 trillion in capital in 2023 — an increase of 40% compared to 2022. Visitors to InvestingInOpportunity.org can explore how Americans in their state benefit fr ..read more

MFA supports FinCEN’s AML/CFT efforts, but re-proposal is needed to clarify private fund requirements Washington, DC — MFA urged FinCEN to repropose its rule on anti-money laundering/countering the financing of terrorism (AML/CFT) in a comment letter today. The re-proposal is needed to right-size the rule to more appropriately apply AML/CFT requirements to private funds and to seek further comments on those revised requirements. MFA supports FinCEN’s goal of combatting money laundering, terrorist financing, and other illicit financial activity. Sophisticated investors in private funds are scr ..read more

NAPFM, MFA, and AIMA File Lawsuit Against SEC to Vacate Dealer Rule Vague and overbroad rule exceeds SEC’s statutory authority, is arbitrary and capricious, and has severe consequences for financial markets WASHINGTON, D.C. – The National Association of Private Fund Managers (NAPFM), MFA, and the Alternative Investment Management Association (AIMA) today filed a lawsuit asking the U.S. District Court for the Northern District of Texas in Fort Worth to vacate a rule recently adopted by the Securities and Exchange Commission (SEC) that dramatically expands the definitions of “dealer” and “gover ..read more

The two recently finalized rules exceed the SEC’s rulemaking authority and must be vacated to protect investors and markets WASHINGTON, D.C.– The National Association of Private Fund Managers (NAPFM), MFA, and Alternative Investment Management Association (AIMA) yesterday challenged two rules recently adopted by the Securities and Exchange Commission (SEC) that require reporting and public disclosure of securities lending and short selling activity in an opening brief filed in the U.S. Court of Appeals for the Fifth Circuit. The brief can be found here. This litigation is about two rules fina ..read more

Brussels, Belgium — MFA issued the following statement on the Council of the European Union’s approval of the AIFMD agreement: “MFA commends the Council of the European Union for its approval of the AIFMD agreement. This agreement guarantees EU investors have access to global expertise and European businesses have access to capital needed to expand, hire, and invest in research and development. AIFMD supports EU economic growth by ensuring that alternative asset managers and alternative investments can continue to play an essential role in EU capital markets and the portfolios of EU ins ..read more

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Washington, DC – Today, MFA and other trade associations submitted an amicus curiae brief in the United States Court of Appeals for the Eleventh Circuit in the American Securities Association, Petitioners v. SEC case. The case addresses the SEC approval of the Consolidated Audit Trail (CAT) funding model. The brief highlights that the funding model passes costs through to dealers and investors who lack any input over the program’s budget or governance. This funding model will continue to encourage mismanagement of CAT and raise costs for investors. In approving the funding model, the SEC did ..read more

Washington, DC — MFA President and CEO Bryan Corbett issued the following statement regarding FinCEN’s proposal to expand anti-money laundering guidance: “MFA is supportive of the FinCEN process to expand anti-money laundering guidance to investment advisers, and has welcomed official guidance since rules were first proposed in 2015. Alternative asset managers take AML issues seriously and maintain controls to guard against money laundering, including the use of fund administrators and other service providers that are keenly focused on preventing money laundering. Private fund investments als ..read more

London, UK – MFA calls for the swift implementation of a consolidated tape for UK fixed income markets in a comment letter to the Financial Conduct Authority (FCA) submitted today. The letter is a response to the FCA’s December consultation paper on the framework for a consolidated tape for fixed income securities. MFA supports the implementation of a consolidated tape for fixed income securities because it will improve market participants’ access to timely, accurate data. Market data is critical to investment managers’ strategies and improved data will benefit UK market competitiveness. MFA ..read more