Ep. 77 The Long-Short | The SEC still thinks hedge funds are dealers. What happens next?

Published: 16 February 2024

The Long-Short is a podcast by the Alternative Investment Management Association, focusing on the very latest insights on the alternative investment industry.

Each episode will examine topical areas of interest from across the alternative investment universe with news, views and analysis delivered by AIMA’s global team, as well as a host of industry experts.

The biggest event of the year so far for hedge funds was the US SEC's recent finalisation of its new definition of a securities dealer. After a year of waiting, the final text is now available, confirming that private funds would be in scope, throwing our industry into uncharted territory by undermining the century-old understanding that hedge funds were customers of dealers, not dealers themselves. So, what exactly does this mean for the industry? Where do we go next?

Joining us to answer these questions and unpack this seismic shift in the definition of a dealer is AIMA's Head of US Markets Policy and Regulation, Daniel Austin. Daniel joins us from AIMA's Washington office to break down the US SEC's final rule text, its implications for hedge funds, and what comes next.

Additional resources:

Ep. 71 The Long-Short | What’s coming next from the US SEC?

AIMA CEO reaction to US SEC's Dealer rule

Listen to this episode and subscribe on Spotify

Listen to this episode and subscribe on Apple Podcasts

Listen to this episode and subscribe on Google Podcasts

Listen to this episode and subscribe on Amazon Music



This podcast is the sole property of the Alternative Investment Management Association (AIMA). This audio production and content are intended as indicative guidance only and are not to be taken or treated as a substitute for specific advice, whether legal advice or otherwise. AIMA permits use or sharing of the content in media or as an educational resource, provided always that proper attribution is made. The rights in the content and production, including copyright and database rights, belong to AIMA.