From Investing.com: 2024-11-14 19:11:06

A top U.S. lobbying group for hedge funds and private credit firms urged Trump’s team to review “harmful” private fund regulations and preserve pro-growth tax policies. Wall Street lobby groups are preparing wish lists for the new Republican administration. The Managed Funds Association has sued the SEC, calling for an overhaul of recent rulemakings.

MFA President Bryan Corbett wrote a letter to Trump’s administration, urging a review of the SEC’s agenda and recent rulemakings. The SEC defended its reforms, claiming they would enhance transparency and resiliency in the private funds space. The Biden administration has been focusing on systemic risks posed by non-banks and private funds.

Corbett emphasized the importance of embracing alternative assets as a driver of economic growth. Private funds provide diversification that stabilizes financial markets and diffuses risk. With Republicans in control of Congress, there may be a review of tax provisions next year. Corbett advocated for preserving incentives for long-term investments, particularly the treatment of carried interest as a long-term capital gain.



Read more at Investing.com: US private funds ask Trump transition team for SEC reform, pro-growth taxes By Reuters