Firm Fails to Institute Procedure for Bunched Orders (www.hedgefundlawblog.com) The fines can be hefty for breaking CFTC regulations or NFA rules.  We have seen a large number of actions both with the SEC and the CFTC as well as with the NFA.  Below is another example of a group who [...]

Separately Managed Account Managers May Bunch Orders for Better Execution One reason why the hedge fund structure is so popular with investment managers is that a single investment strategy can be implemented in one account.  Separately managed account managers, however, often have multiple accounts and need to execute the same [...]

For Immediate Release For more information contact: Larry Dyekman (312) 781-1372, ldyekman@nfa.futures.org Karen Wuertz (312) 781-1335, kwuertz@nfa.futures.org NFA takes an emergency enforcement action against GlobeFX Club, Inc. March 24, Chicago – National Futures Association (NFA) announced today that it has taken an emergency enforcement action against GlobeFX Club, Inc. (GlobeFX [...]

(www.hedgefundlawblog.com) Creating Series 34 Exam Prep Materials One central issue in the investment management industry is increases in regulation of previously unregulated or lightly regulated activities.  The major area which will see direct regulation within the next 12 months is the retail off-exchange foreign currency industry.  As we have discussed, [...]

Dealing with Ambiguous State Securities Laws An issue which often arises during the planning phase of the hedge fund formation process is whether certain state securities or investment advisory laws or regulations apply to a certain fact situation.  Many times these issues arise in the context of investment advisor registration [...]

Currently each state has their own securities laws and their own interpretation of those laws.  While many of the laws and regulations are based on the same set of model rules, no two states seem to take the same interpretation with regard to the rules.  Enforcement is completely different as [...]

Allowing Investor Viewing Access to Brokerage Account I have recently been talking with many hedge fund service providers about what they are seeing in the industry right now.  The following quote aptly summarizes what I have been hearing: it’s a buyer’s market and managers need to be mindful if they [...]

Self Directed IRA Investments in Funds Likely to Become Harder to Accomplish In an earlier article about hedge fund IRA investments I discussed the general process which an investor will need to go through in order to invest their IRA assets in a hedge fund.  As a gross generalization the [...]