MFA Outlines Regulatory Priorities

The Managed Funds Association ("MFA") summarized its regulatory priorities and advocated an approach that "protects investors, enhances regulatory coordination, promotes market transparency and increases market fairness and efficiency."

In a detailed letter to Chair Jay Clayton, the MFA urged the SEC to, among other things:

• implement additional data security measures designed to protect confidential information of registrants;
• advocate against efforts by FSOC to "impose bank-like regulations on non-bank activities";
• adjust proposed rules imposing restrictions on incentive-based compensation for employees of investment advisers;
• withdraw the proposed business continuity rule for advisers;