A lobby group for hedge funds says it is opposed to the creation of a self-regulatory organization for hedge funds.

The Hedge Fund Association notes that the U.S. Government Accountability Office is studying the feasibility of creating an SRO for hedge funds.

“In our discussions with the GAO, the Hedge Fund Association has let it be known that we stand in firm opposition to any potential hedge fund SRO,” David Friedland, president of the HFA and president of Magnum U.S. Investments, Inc., said Friday.

“In light of the new registration requirements imposed by the Dodd-Frank Bill we believe that any SRO would prove to be entirely redundant and represent yet another regulatory cost that will suppress industry growth,” he added.

The HFA is urging regulators to limit hedge fund regulation to the currently established registration requirements and abandon any consideration of an SRO.

IE