Journal of Investment Compliance: Volume 5 Issue 4

Hedge fund managers: Summary and implications of new rules requiring SEC registration

Carolyn E. Taylor

On October 26, 2004, the Securities and Exchange Commission (the “Commission” or the “SEC”) adopted a new rule and related amendments requiring, among other things, that hedge…

Registering a hedge fund manager as an investment Adviser: A practical guide through the process

David Scherl, David Barnett, David Lerner

On October 26, 2004 the Securities and Exchange Commission (the “SEC”) adopted new rules and rule amendments under the Investment Advisers Act of 1940 (the “Advisers Act”) that…

We have to register? At least now we can advertise!

Ricardo W. Davidovich

In the wake of the Securities and Exchange Commission’s (the “SEC”) adoption of new rule 203(b)(3)‐2 under the Investment Advisers Act of 1940, as amended (the “Advisers Act”)…

How much is that security worth? Valuation issues and recommendations for hedge fund advisers post‐registration

Derek M. Meisner

Every month, many hedge fund managers grapple with a fundamental conflict of interest. The conflict arises when a fund manager, whose compensation is based on fund performance, is…

Prime brokerage and capital introduction: Regulatory background

Robert L. Stype

Speaking about hedge funds, Stephen M. Cutler, Director of the United States Securities and Exchange Commission’s Division of Enforcement, stated that “firms that provide… prime…

Mutual funds, NSMIA and the state securities regulators – When do state enforcement remedies become improper regulation?

W. Hardy Callcott

On September 3, 2003, New York Attorney General Eliot Spitzer announced what quickly became the gravest scandal in the mutual fund industry in the 65 years since Congress passed…

The increasing risk of legal challenges to an employer’s compensation policies and practices: Considerations for compensation self‐assessment

Christopher P. Reynolds, Richard W. Black

In recent years, the compensation practices of employers, including financial services firms, have come under increasing attack by the government and private plaintiffs amid…

Opting out of the “opt‐out” provision: The new order protection rule from the SEC

Mark Anson

The Trade‐through rule (TTR) was established in 1975; it was designed to ensure that investors got the best price available for a stock trade. Under the Trade‐through rule, a…

Adviser “client notice and consent” for principal trades and the impact of “real‐time” reporting

Lawrence Cohen

Broker/dealers and investment managers that trade municipal securities on behalf of their clients are preparing for the shift from “end‐of‐the‐day batch” trade reporting to…

At the brink of regulatory convergence

Don Vangel

Nearly eight years ago, a study “Global Institutions, National Supervision and Systemic Risk” was released by the Group of Thirty (G‐30), a private, nonprofit international body…