The Alternative Investment Management Association (AIMA), the global trade association for hedge funds, has welcomed the Joint Statement on the communication and use of Material Nonpublic Information, agreed and signed by a number of US led investment industry trade organisations.
The Statement reaffirms the signatories common commitment to ensure that any inappropriate use of nonpublic material information is not tolerated and that all investment and trading activities are carried out to the highest ethical standards.
“This is a vital issue for the investment community, to allow it to retain the confidence of investors, regulators and other interested parties,” says Florence Lombard, the Executive Director of AIMA. “We are committed to a healthy and properly regulated market. AIMA will shortly be issuing a guidance note specifically tailored for hedge fund managers on this subject”.