MFA hardens its line on the SEC

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The big U.S. hedge funds have quietly asserted their control over the Managed Funds Association for the first time with the appointment of Adam Cooper, the Citadel general counsel, as chairman, signaling a move to use the organization more effectively in all matters including opposition to the SEC regulatory proposals.

Sam Weiser, who chaired the MFA for two years and helped build up the organization, was seen as having a 'softer' view on regulation, believing that it was inevitable and not necessarily bad.

However, many of the bigger funds in the industry and on the MFA board are strongly opposed