Washington, D.C. — MFA President and CEO Bryan Corbett issued the following statement in support of the House Financial Services Committee passing the Financial Stability Oversight Council Improvement Act (H.R. 3682), which would require the Financial Stability Oversight Council (FSOC) to treat Systemically Important Financial Institution (SIFI) designation as a last resort:
“MFA commends the House Financial Services Committee for advancing bipartisan legislation that brings transparency and accountability to FSOC’s SIFI designation process. Alternative asset managers operate under robust SEC oversight and do not pose systemic risk. Requiring FSOC to first consider targeted regulatory alternatives is a commonsense safeguard to protect markets. This bill will strengthen capital markets by improving regulatory clarity and investor confidence.” — Bryan Corbett, MFA President and CEO
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About the global alternative asset management industry
The global alternative asset management industry — including hedge funds, private credit funds, and hybrid funds — serves thousands of public and private pension funds, charitable endowments, foundations, and other global institutional investors. The industry provides portfolio diversification and risk-adjusted returns to help meet their funding obligations and return targets throughout the economic cycle.
About MFA
Managed Funds Association (MFA), based in Washington, D.C., New York City, Brussels, and London, represents the global alternative asset management industry. MFA’s mission is to advance the ability of alternative asset managers to raise capital, invest it, and generate returns for their beneficiaries. MFA advocates on behalf of its membership and convenes stakeholders to address global regulatory, operational, and business issues. MFA has more than 180 fund manager members, including traditional hedge funds, private credit funds, and hybrid funds, that employ a diverse set of investment strategies. Member firms help pension plans, university endowments, charitable foundations, and other institutional investors diversify their investments, manage risk, and generate attractive returns throughout the economic cycle.
