Scott Garrett: “I would like to make one final point on this. I mentioned during my earlier remarks the improvements that the industry…”

“I would like to make one final point on this. I mentioned during my earlier remarks the improvements that the industry has made on its own in this year. And I should also point out, I think Mr. Castle would appreciate the fact, that the Managed Funds Association, which is the funds of the association of the hedge funds, in essence, are in support of this legislation as well. They have indicated the hedge funds are currently subject to numerous regulations already relating to advertising and broad reporting requirements, ERISA and other securities. But they do as well see the benefit to look at both sides of the equation from a balanced approach, both the risk and the potential difficulties as well. So I just wanted to add that to the Record as well.”