From the monthly archives:

July 2009

Series 79 Exam Approved

July 30, 2009

http://www.hedgefundlawblog.com
SEC Approves  New Exam for “Limited Representative” Investment Bankers
The long anticipated Series 79 Examination has finally received approval by the SEC, and information will now be made available to the public regarding the content of the exam, the modifications to the original licensure rules, and the scope and intent of the new rule in establishing [...]

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SEC Announces New Short Sale Rules

July 27, 2009

One of the major regulatory pushes this year by the SEC has been to revamp the short sale rules.  Today the SEC announced some specific measures which are intended to curtail abusive short sales.  We will likely have more comments on this issue going forward and will publish hedge fund industry reaction.
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SEC Takes Steps to [...]

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GIPS Compliance Information For Hedge Funds

July 24, 2009

Hedge Funds and GIPS Compliance
The Chartered Financial Analysts (CFA) Institute has spearheaded and implemented the Global Investment Performance Standards (GIPS) for investment managers as a means of establishing a higher standard for compliance with measurement and reporting of hedge fund performance.  GIPS standards set forth a universal set of guidelines and standards for measuring, calculating, [...]

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Prime Brokers, Margin Lock-ups & Hedge Funds

July 23, 2009

Today we have another guest post from Karl Cole-Frieman who specializes in providing legal advice to hedge funds and other alternative asset managers.  Mr. Cole-Frieman specializes in Loan Trading and Distressed Debt Transactions, ISDAs, Soft Dollars and Commission Management arrangements, and Wage and Hour Law Matters among other legal matters which hedge fund managers face [...]

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Hedge Fund Auditors | Thought Piece From Castle Hall Alternatives

July 22, 2009

The following article is by Christopher Addy, President and CEO of Castle Hall Alternatives, a hedge fund due diligence firm.  We have published a number of pieces by Mr. Addy in the past (please see Hedge Fund Fees, Hedge Fund Due Diligence Issues, Issues for Hedge Fund Administrators to Consider and ERISA vs. the Hedge [...]

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Series 3 Exam | Commodities & Futures Exam Topics

July 22, 2009

Hedge Fund Managers and the Series 3 Exam
Those managers who engage in commodities and futures trading (and who don’t qualify for an exemptions) will need to register as commodity pool operators with the CFTC and become members of the NFA.  In order to do this all owners and “associated persons” of the manager/CPO will need [...]

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Hedge Funds and Rehypothication

July 21, 2009

Ongoing Legal Issues For Hedge Fund Managers
While many of the posts on this blog deal with start up and regulatory issues which hedge fund managers face, we also are aware that there are many ongoing legal issues which affect the business of the fund.  Below is a guest post from Karl Cole-Frieman on on hedge [...]

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Series 7 Exam Overview | General Securities Representative Exam

July 21, 2009

What is the Series 7 Exam?
The Securities and Exchange Commission requires that individuals who want to enter the securities industry to sell any type of securities must take and pass the Series 7 examination to qualify as a general securities representative.  Individuals who are Series 7 licensed are eligible to register with all self-regulatory organizations [...]

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SEC Supports Private Funds Transparency Act of 2009

July 20, 2009

Testimony Concerning Regulating Hedge Funds and Other Private Investment Pools
The SEC released a testimony from Andrew J. Donohue before the U.S. Senate about the regulation of hedge funds and other private investment pools.  According to Mr. Donohue’s statement, securities laws have not kept pace with the growth market and thus the SEC has very little [...]

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Series 79 Exam – Waiting for SEC Approval

July 19, 2009

Post courtesy of www.series79exam.com.
SEC to Shed Light on the New Series 79 Exam
Pursuant to a proposal set forth by FINRA in February of this year, it is anticipated that the Series 79 will be introduced as a simplified alternative exam for investment bankers. Prior to the introduction of this new exam, all registered representatives were [...]

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