The Managed Funds Association (MFA), an association for the global alternative asset management industry, presented the Securities and Exchange Commission (SEC) with a list of 10 recommendations it says will promote economic growth and strengthen capital markets.
In a letter to SEC acting chair Mark Uyeda, MFA leaders recommended policies that would promote capital formation, expand investor access, improve regulatory efficiency and reduce waste. The organization said the policies align with President Donald Trump’s Regulatory Freeze and Ensuring of Lawful Governance Executive Orders. It is the second letter from MFA to Uyeda this year.
“These recommendations will drive economic growth, strengthen public and private capital markets, and support the financial well-being of all Americans. The SEC has a mandate to re-evaluate regulations that impose unjustified costs and burdens on market participants without corresponding benefits,” Bryan Corbett, MFA President and CEO, said. “MFA stands ready to work with the SEC on policies that ensure the U.S. capital markets remain the envy of the world.”
The recommendations included rulemakings and guidance that the organization said would improve the efficiency and integrity of the financial markets, lower costs for investors and market participants, and streamline federal regulations and eliminate those that are unnecessary and overreaching.
MFA recommended streamlining Form PF to make it consistent with its purpose of monitoring systemic risk. Additionally, the association recommended the SEC make it easier for investors to access private markets by easing the ability of registered investment product to hold alternative asset classes. And the MFA recommended updating rules to reflect keeping pace with current financial innovation in areas like the Custody Rule, and the Advisers Act Marketing Rule, among other recommendations.