24 February 2009

AIMA supports regular disclosure of large holdings and risks to regulators

AIMA started an initiative which will back the principle of full transparency and supervisory disclosure of systemically significant positions and risk exposures by hedge fund managers to their national regulators.

AIMA will back the principle of full transparency and supervisory disclosure of systemically significant positions and risk exposures by hedge fund managers to their national regulators.

 

The transparency initiative, launched by the Alternative Investment Management Association, also calls for unified global standards for the industry based on the convergence of existing industry standards work.

 

The policies in AIMA’s new platform are:

Ø       Regular reporting and increased transparency of systemically significant positions and risk exposures by managers of large hedge funds to their national regulators (the regulator of the jurisdiction in which the manager is authorised and registered to operate).

Ø       An aggregated short position disclosure regime to national regulators.

Ø       Support for new policies to reduce settlement failure (including in the area of naked short selling).

Ø       Support for a global manager-authorisation and supervision template based on the UK’s FSA model.

Ø       A call for unified global standards for the industry based on the convergence of existing industry standards work, such as that authored by AIMA, HFSB, IOSCO, PWG and MFA.

 

Press release

 

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