SIFMA Asset Management Group Statement on SEC Proposed Rules Regarding Fund Use of Derivatives

Release Date: December 11, 2015
Contact: Liz Pierce, 212-313-1173, [email protected]

SIFMA Asset Management Group Statement on SEC Proposed Rules Regarding Fund Use of Derivatives

Washington, D.C., December 11, 2015 – SIFMA’s Asset Management Group today released a statement from Timothy Cameron, managing director and head of SIFMA’s Asset Management Group, after the Securities and Exchange Commission voted to propose new rules governing the use of derivatives by mutual funds and exchange-traded funds, closed-end funds, and business development companies:

“SIFMA’s Asset Management Group believes the Securities and Exchange Commission (SEC), as the primary regulator of investment managers, is the appropriate agency to review and address risk in asset manager products and activities. As the SEC moves forward with its five expected rulemakings, including this proposal focused on the use of derivatives in investment funds, industry insight will be critical to crafting rules that modernize asset management regulation without unnecessarily impeding the ability of asset managers to help clients achieve their financial goals. SIFMA AMG will review the proposal in detail with our members and provide substantive comments to the SEC.”

SIFMA’s Asset Management Group members represent U.S. asset management firms whose combined assets under management exceed $30 trillion. The clients of AMG member firms include, among others, registered investment companies, endowments, state and local government pension funds, private sector Employee Retirement Income Security Act of 1974 (“ERISA”) pension funds, and private funds such as hedge funds and private equity funds. For more information, visit http://www.sifma.org/amg.