Hedge Funds

MFA names former U.S. senator to board


The Managed Funds Association this week named former U.S. Senator John Breaux to its board.

MFA President Jack Gaine says Breaux's addition to the board will be a big boon to the group as its membership seeks to emphasize sound business practices ahead of regulation from the Securities and Exchange Commission slated to take effect in February 2006.

Breaux retired from Congress in January. During his 32-year tenure in Congress, he served as a member on a number of influential subcommittees, including the finance committee, healthcare and IRS oversight.