Washington, DC — MFA President and CEO Bryan Corbett issued the following statement regarding FinCEN’s proposal to expand anti-money laundering guidance:
“MFA is supportive of the FinCEN process to expand anti-money laundering guidance to investment advisers, and has welcomed official guidance since rules were first proposed in 2015. Alternative asset managers take AML issues seriously and maintain controls to guard against money laundering, including the use of fund administrators and other service providers that are keenly focused on preventing money laundering. Private fund investments also typically are funded with assets from financial institutions subject to strong AML regimes. MFA looks forward to participating in the FinCEN comment process.” — MFA President and CEO Bryan Corbett
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About the global alternative asset management industry
The global alternative asset management industry, including hedge funds, credit funds, and crossover funds, has assets under management of $5.5 trillion (Q3 2023). The industry serves thousands of public and private pension funds, charitable endowments, foundations, sovereign governments, and other global institutional investors by providing portfolio diversification and risk-adjusted returns to help meet their funding obligations and return targets.
About MFA
Managed Funds Association (MFA), based in Washington, DC, New York, 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, 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 175 member fund managers, including traditional hedge funds, credit funds, and crossover funds, that collectively manage over $3.2 trillion across a diverse group of investment strategies. Member firms help pension plans, university endowments, charitable foundations, and other institutional investors to diversify their investments, manage risk, and generate attractive returns over time.
