Press Releases

Release Date: February 22, 2007

Contact:
Travis Larson (202) 216-2057         tlarson@sifma.org

SIFMA: President’s Working Group Statement on Hedge Funds ‘Thoughtful’

WASHINGTON, D.C., February 22, 2007 – The Securities Industry and Financial Markets Association (SIFMA) today responded to the President’s Working Group statement on the benefits and risks of hedge funds. 

“The President’s Working Group has taken a thoughtful and judicious approach to many of the investor protection and systemic risk issues which surround hedge funds,” said Micah Green, co-CEO of SIFMA.  “We appreciate the efforts of this broad group of US government agencies and we expect further study of their proposals.”

“Too often, regulators reach immediately for new laws or rules which can have the unintended consequence of stifling innovation or smothering markets,” added Green.  “By instead providing principles and guidelines, the President’s Working Group has recognized the importance of flexibility and efficiency in a healthy marketplace.”

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The Securities Industry and Financial Markets Association brings together the shared interests of more than 650 securities firms, banks and asset managers. SIFMA's mission is to promote policies and practices that work to expand and perfect markets, foster the development of new products and services and create efficiencies for member firms, while preserving and enhancing the public's trust and confidence in the markets and the industry. SIFMA works to represent its members’ interests locally and globally. It has offices in New York, Washington D.C., and London and its associated firm, the Asia Securities Industry and Financial Markets Association, is based in Hong Kong.