On January 22, 2025, the Managed Funds Association (MFA) presented four significant policy recommendations to acting SEC Chair Mark Uyeda, aimed at enhancing regulatory clarity and supporting economic growth in the U.S. financial markets. The first recommendation urges the SEC to withdraw its appeal of the Dealer Rule, aligning with MFA's position that alternative asset managers should not be classified as dealers. This move is intended to alleviate regulatory burdens on these asset managers and foster a more favorable operating environment [2c7f8f76].
Additionally, the MFA has called for a six-month extension on the compliance deadline for the Short Position Reporting Rule, citing insufficient time for market participants to adapt to the new requirements. This extension is seen as crucial for ensuring that all stakeholders can meet the new standards without undue pressure [2c7f8f76].
The third recommendation involves delaying the compliance date for New Form PF requirements until September 12, 2025. The MFA argues that this delay is necessary due to the lack of finalized technical specifications, which could hinder proper implementation [2c7f8f76].
Lastly, the MFA advocates for a halt to regulation by enforcement, emphasizing the importance of protecting due process and reducing burdens on investors. MFA President Bryan Corbett highlighted the urgency of these recommendations, stressing the need for quick and tangible actions to bolster U.S. economic growth [2c7f8f76].
These recommendations come at a time when the SEC is under scrutiny for its regulatory approach, and the MFA's proposals aim to create a more balanced and supportive regulatory framework for managed funds and their investors [2c7f8f76].