PUBLIC POLICY ADVOCACY OF THE ALTERNATIVE INVESTMENT MANAGEMENT ASSOCIATION (AIMA)

Founded in 1990, the Alternative Investment Management Association (AIMA) headquartered in London is the global representative of the hedge fund industry. AIMA is the leading industry advocate, maintaining close dialogue with national and supranational policy making institutions, governments and regulatory agencies, providing responses to important regulatory and tax consultations and developing sound practices and industry guidance for its members. AIMA represents all practitioners in the alternative investment management industry – including hedge fund managers, fund of hedge funds managers, prime brokers, legal and accounting firms, investors, fund administrators and independent fund directors.

AIMA’s membership is corporate and comprises over 1,300 firms (with over 7,000 individual contacts) in more than 50 countries. They all benefit from its active influence in policy development, leadership in industry initiatives and outstanding reputation with regulators.

AIMA addresses the real issues affecting the industry’s development. It represents the global hedge fund industry at national and  international levels in ongoing discussions about the future regulatory framework for the industry. Its focus on education, regulation, policy development and sound practices has resulted in a substantial body of work used around the world by members, institutional investors, policymakers and supervisors.

AIMA is governed by its Council (Board of Directors) which currently includes: Patomak Global Partners; Summerwood Capital Corporation; Maples and Calder; Ernst & Young LLP, Marshall Wace Asia Limited; PricewaterhouseCoopers; Winton Capital Management; APG Asset Management US Inc., and  York Capital Management.

Sponsoring Members: Through the provision of financial support in excess of standard membership fees, AIMA’s Sponsoring Members play a vital role in assisting the Association in undertaking global activities and enhancing the level of sound practices within the industry. Current sponsors include CME Group, Deutsche Bank, Ernst & Young, Man Investments; SEI; Simmons & Simmons.

Global Partners : AIMA’s Global Partners play a vital role in assisting the association in undertaking all of its activities on behalf of its members internationally. Current Global Partners include: CITCO, Clifford Chance, UBS, Maples, KPMG, Eurex, and PriceWaterhousecoopers.

Public Policy Advocacy

The Government and Regulatory Affairs Department (GRA) manages all matters relating to regulatory and tax issues of relevance to the AIMA membership base.  The GRA Department consists of three teams: Asset Management Regulation, Markets Regulation and Tax Affairs. The Department is headed by the Deputy CEO, Head of Government and Regulatory Affairs.

In each of the three Regions:  Americas, Asia Pacific and  EMEA, Regulatory Affairs works  in close cooperation with the three GRA teams and AIMA’s National Groups in the region.

Key areas of activities

• Asset management authorisation/registration and reporting regimes;
• Trading and market structure and infrastructure regulations;
• Measures on OTC derivatives trading, clearing and reporting;
• Short selling regulatory interventions;
• Recovery and resolution regulations for banks and non-bank financial institutions;
• Market abuse regulations;
• Investor regulations affecting the hedge fund industry (e.g. pensions and insurance regulations);
• Tax affairs affecting the hedge fund industry;

AIMA’s advocacy role is to present and actively promote the AIMA position in order to contribute constructively to the policy and regulatory discussions with the relevant authorities, collaborating with teams within the GRA department on horizontal/cross-sectional or global issues which impact the region; organising and running specialist working groups to handle specific projects and initiatives of interest to the membership, including responses to regulatory consultations, guidance notes and updates for members or briefing notes for colleagues; preparation of and assistance with responses to regulatory consultations with the focus on the  region or on specific issues on behalf of corporate members – both via Standing Committees, Working Groups, and individually; summarising consultation papers and reports for members; engaging in advocacy work on key areas of importance in front of policy makers, governmental agencies and regulatory authorities, including arranging seminars or workshops where required; summarising the regulatory position on specific topics, across multiple jurisdictions for AIMA colleagues and members; responding promptly to members’ queries and requests on market regulatory issues; keeping members up to date with the association’s publications and the global regulatory and industry environment in which it operates; attending, and speaking at, industry events on regulatory issues and networking with members and industry participants; liaising with members acting locally in different jurisdictions.