AIMA has given a cautious welcome to the decision by the US Courts of Appeals to strike down the SEC's rule requiring hedge fund managers to register.

AIMA has given a cautious welcome to the decision by the US Courts of Appeals to strike down the SEC's rule requiring hedge fund managers to register.
 
The SEC's professional staff is now 'to provide the Commission with a set of alternatives for consideration'.
 
'The impact of the existing rule affected all hedge fund managers globally. This judgement has far-reaching impact. Whilst AIMA is generally in favour of efficient and appropriate regulations, such as those that exist in the UK and many other countries, AIMA has always been firmly against the SEC requirement for dual registration for non-US based managers, who are already effectively regulated in their own jurisdictions,' said Christopher Fawcett, Chairman of AIMA ,on the court's decision. 'However, the effects of the decision are not yet clear for those hedge fund managers who are already registered or those currently seeking registration.

'AIMA will seek to work with the SEC and its peers in other jurisdictions to arrive at a solution whereby the majority of its non-US members, who are fully regulated already, will be able to de-register from the SEC.'
 
AIMA will offer further comment as this matter develops.