MFA requests CFTC extend no-action relief on position aggregation requirements

MFA, together with FIA and SIFMA, called on the Commodity Futures Trading Commission (CFTC) to extend no-action relief for position aggregation requirements in a letter submitted today. The CFTC has granted and extended this relief since 2017, but the relief is now set to expire in August 2025. MFA Chief Legal Officer Jennifer Han issued the following statement in conjunction with the letter:

"MFA urges the CFTC to extend no-action relief on position aggregation requirements and take steps toward making it permanent. The relief has functioned well for nearly eight years, and helps managers comply with position limits without imposing unnecessary burdens. Letting it expire would increase costs and complexity without enhancing regulatory oversight." - Jennifer Han, MFA Chief Legal Officer

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About the global alternative asset management industry

The global alternative asset management industry - including hedge funds, private credit funds, and hybrid funds - serves thousands of public and private pension funds, charitable endowments, foundations, and other global institutional investors. The industry provides portfolio diversification and risk-adjusted returns to help meet their funding obligations and return targets throughout the economic cycle.

About MFA

Managed Funds Association (MFA), based in Washington, D.C., New York City, Brussels, and London, represents the global alternative asset management industry. MFA's mission is to advance the ability of alternative asset managers to raise capital, invest it, and generate returns for their beneficiaries. MFA advocates on behalf of its membership and convenes stakeholders to address global regulatory, operational, and business issues. MFA has more than 180 fund manager members, including traditional hedge funds, private credit funds, and hybrid funds, that employ a diverse set of investment strategies. Member firms help pension plans, university endowments, charitable foundations, and other institutional investors diversify their investments, manage risk, and generate attractive returns throughout the economic cycle.