1 / 7

IOSCO Technical Committee Conference, Tokyo November 8-9, 2007 PANEL 5

IOSCO Technical Committee Conference, Tokyo November 8-9, 2007 PANEL 5 Approaches towards Alternative Investments – Regulation of hedge funds in the United States John G. Gaine President Managed Funds Association. About MFA. Founded in 1991.

leonard-gibson
Télécharger la présentation

IOSCO Technical Committee Conference, Tokyo November 8-9, 2007 PANEL 5

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. IOSCO Technical Committee Conference, Tokyo November 8-9, 2007 PANEL 5 Approaches towards Alternative Investments – Regulation of hedge funds in the United States John G. Gaine President Managed Funds Association

  2. About MFA • Founded in 1991. • Only U.S.-based, global membership organization dedicated to the hedge fund industry. • Members include hedge funds, fund of hedge funds and managed futures funds.

  3. Sound Practices for Hedge Fund Managers • First document in 2000. • 2007 edition is in its fourth iteration. • Was prepared in response to President’s Working Group on Financial Markets (PWG). • Several iterative improvements from prior versions.

  4. MFA’s Three Pillars • Market self-discipline. • Tailored but interoperable approaches to sound practices. • The wholesale approach.

  5. Market self discipline • Market-discipline is necessary to sound risk management. • Ongoing dialogue among market participants is essential. • Participants and regulators must keep talking in order to dispel market concerns and reduce risk.

  6. Tailored but interoperable approaches to sound practices • One size does not fit all. • Multiple open consultations and dialogue are key. • Regulators and industry associations should not prescribe structure.

  7. The wholesale approach • Alternative investments are risky; regulators should not forget that fact. • MFA does not support retailization. • Savvy investors vs. retail investors.

More Related