London-based Alternative Investment Management Association has produced an open letter that argues that global fund groups already regulated outside of the U.S. shouldn't be subject to any forthcoming Securities & Exchange Commission registration requirements. The move is particularly poignant since AIMA has historically abstained from lobbying activities in the U.S. Unlike the U.S.-centric Managed Funds Association industry group, AIMA is not against regulation.
However, AIMA's recent open letter to the SEC suggests the association wants to avoid complications that would arise from dual registration. AIMA argues that most non-U.S. hedge fund groups are already subject to regulation in their