Hedge fund industry looks to court regulators, critics, media; Managed Funds Association planning to `get out ahead of regulatory issues'.(News)

Investment News, February, 2007

Byline: Jeff Benjamin KEY BISCAYNE, Fla. - The $1.2 trillion hedge fund industry, bracing for its second regulatory battle with the Securities and Exchange Commission in as many years, plans to take a more proactive approach to dealing with regulators, critics and the media. "The goal is to get out ahead of regulatory issues and help the regulators understand what it is we do,'' said Robert Aaron, chairman of the Managed Funds Association, a Washington-based trade group that represents hedge funds.

At the MFA's annual networking conference here last week, the other- wise casual gathering of more than 500 industry representatives was somewhat overshadowed by the SEC's latest attempt to ratchet up its regulatory oversight of hedge funds. ...