The association representing global alternatives managers has a wish list for new acting SEC Chair Mark T. Uyeda.
In a letter to Uyeda — the agency’s acting chair since the SEC commissioner was appointed by President Donald Trump on Jan. 20 until Paul Atkins is confirmed by the Senate — the Alternative Investment Management Association outlined four near-term priorities “that would immediately benefit the alternative investment industry and market confidence,” a news release said. The letter is signed by AIMA CEO Jack Inglis, and Jiri Krol, deputy CEO and global head of government affairs.
The first recommendation is for Uyeda to extend compliance timelines for the short sale rule, which pushes for more data, with the disclosures then published.
The second is that the dealer rule — which expands the definition of a dealer and government securities dealer to include trades engaging in one or two activities “as part of a regular business” — be withdrawn. The rule was finalized by the SEC in February 2024 and struck down by a federal judge in November.
The association’s third request is that Uyeda “champion the establishment of a crypto task force” — which the SEC said Jan. 21 will be led by SEC Commissioner Hester Peirce. The task force aims to develop a regulatory framework for cryptocurrencies.
Finally, AIMA wants additional time to be provided for compliance with Form PF, a regulatory filing detailing information on operations and strategies of private funds. Hedge funds with more than $500 million in net assets must disclose more information and under revised requirements by March 12, according to AIMA’s website.
“AIMA has had a positive and productive relationship with Mark Uyeda during his tenure as SEC commissioner, including hosting him at our APAC forum in October 2024, and we look forward to continuing a constructive dialogue,” the news release added.
The letter is available for download by AIMA members.
Atkins will be the permanent replacement for Gary Gensler, who stepped down Jan. 20.