The regulatory focus on hedge funds continued during the first quarter of 2012, as new iniatives continued to roll out, and milestones in the implementation of rules put on the books last year were hit. For “large” hedge funds, we see the summer deadline for filing the Form PF looming large. Required by the Dodd-Frank Act, the [...]
The Securities and Exchange Commission, in conjunction with the Commodity Futures Trading Commission, has proposed a new “Form PF” reporting requirement, which, if implemented as proposed, represents a substantial increase in the amount of information required to be reported in to these regulators by hedge funds. Form PF is a statutory mandate stemming from the [...]
On the heels on several high profile scandals, the SEC has moved quickly to address “pay-to’play” practices in the hedge fund and investment advisory arenas. Last week, the SEC adopted new Rule 206(4)-5 limiting “pay-to-play” practices for investment advisers, including hedge fund investment advisers. The new Rule effectively prohibits the adviser from receiving compensation from [...]
We’re not sure what inning it is, but the hits are coming in fast and furious when it comes to bill proposals for hedge fund registration. Just today, Chris Dodd released the discussion draft of the “Restoring American Financial Stability Act of 2009’’, which contains within it the ‘‘Private Fund Investment Advisers Registration Act of [...]
There’s a battle going on in Europe over proposed regulatory reforms directed at alternative investments. The EU is two steps ahead of Washington in the financial overhaul process, having released a draft Directive in April, 2009. Sides have been drawn, with some calling the provisions too lenient, and others believing that there are significant downsides to [...]
As the end of the year comes closer, bonuses are increasingly on the minds of Wall Streeters, and in particular, hedge fund employees. With some high water marks not yet recovered from 2008 levels, and the markets still not favorable for many strategies, dividing up the hedge fund bonus pool (if any) for 2009 will surely be a [...]
There have been two important recent developments that hedge fund compliance professionals need to be aware of related to required SEC regulatory filings. And with these changes, a bit more of the direction that regulators will be taking with hedge funds is becoming apparent. The first development is a bit surprising in that there has actually [...]
The Administration has now formally sent proposed legislation to Congress that requires registration of all investment advisers to hedge funds and other private pools of capital over $30m in the form of the proposed Private Funds Investment Adviser Registration Act of 2009. In addition to registration of the investment advisers, the Act calls for periodic reporting by these [...]
It may not be front page news, but states are becoming more active in the regulation of hedge funds, stepping in where there is a perceived lack of action from the federal government. From blue sky laws to registration provisions, the states have always been “in the mix”, but now we are seeing an increase [...]
Q: If hedge fund compliance professionals could roll back time and make one form of technology disappear, what would it be? A: Clearly, without question, hands down: email (and its cousin, instant messages) No matter how many warnings and explanations are given, the spate of wacky, stupid and worst of all, self-implicating, emails and IM’s by [...]
