MFA endorses Paulson plan, backing hedge fund self-regulation


The Managed Funds Association came out in support of U.S. Treasury Secretary Henry Paulson’s blueprint for streamlining federal oversight of the financial industry, which appears to lessen the regulatory scrutiny of hedge funds.

“MFA is in full support of the Treasury’s goals of promoting a sound and competitive financial services industry, investor protection and stable and innovative markets,” said MFA president and chief executive Richard Baker, in a statement last week.

“We share Secretary Paulson’s view that a principles-based approach is prudent, and we believe this blueprint provides a solid foundation for providing regulatory clarity, reducing duplicative oversight, monitoring