“We believe that the SEC should reconsider the net benefits to managers given the relatively small amount of direct cost savings and the increased costs associated with the loss of information,” the MFA said in its letter.
The Alternative Investment Management Association, a hedge fund trade group based in London, concurred that the SEC had not “given sufficient consideration to the widespread uses of the data” in 13F filings. Aima added that the regulator also failed to provide a “detailed and balanced cost-benefit analysis that is necessary to support these proposals,” according to a comment letter dated Sept. 29.
This article was provided by Bloomberg News.