From the monthly archives:

September 2009

NFA Rule Compliance Rule 2-45 Approved

September 26, 2009

CPOs Prohibited From Taking Loans From Commodity Hedge Funds
The CFTC just recently approved a new NFA compliance rule which prohibits commodity pool operators (CPOs) from taking loans from the commodity pools which they manage. Additionally, if a CPO currently has some sort of a loan arrangement with their fund, such CPO will have until [...]

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IA Compliance Fall Conference 2009

September 21, 2009

Over the past few months I have written extensively about the new regulatory environment and the likelihood that many hedge fund managers will need to register with the SEC within the next year or so (assuming that Congress passes one of many proposed registration bills).  Anticipating this requirement, my team and I at Mallon P.C. [...]

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Section 13(d) Filings and Section 13(g) Filings

September 20, 2009

Section 13(d) of the Securities Act of 1934 requires any person who beneficially owns 5% or more of a class of equity securities of a publicly traded company to file a report with the SEC within 10 days of reaching the 5% ownership threshold.  SEC Rule 13d-1 provides more detailed guidance on the reporting requirements.
Generally [...]

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Raising Hedge Fund Capital is Not Easy

September 19, 2009

I have written before that the biggest issue start-up and emerging hedge fund managers face is raising capital for their funds.  I seem to have the same conversation on a weekly basis – the “how to do I grow my fund” conversation.  Unfortunately I do not have the guaranteed step-by-step guide to raising boatloads of [...]

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Hedge Fund Marketing Materials Designer

September 19, 2009

I would like to take this opportunity to thank Ovis Creative for the wonderful job that they have done on the design of my business cards.  Lauren Colonna, the firm’s Principal/Creative Director, has created marketing materials (including pitchbooks and tearsheets) for some of the largest and most successful hedge funds and alternative assets managers in [...]

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Investment Adviser Pay to Play Rules

September 18, 2009

SEC Proposal Would Ban Third Party Solicitors from Seeking Public Monies
Back in July there was much discussion about new “pay to play” rules proposed by the SEC.  The proposed “pay to play” rules would limit the ability of investment managers (including hedge fund managers) to make political contributions and would also limit the ability of [...]

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Series 79 Questions and Answers | Investment Banking Exam

September 17, 2009

Q&A For New FINRA Exam License
We have fielded a number of questions regarding the new Series 79 exam for investment banking professionals.  We are creating this question and answer page as a service to our readers.  We will attempt to answer questions as best as possible and our understanding the 79 exam license and the [...]

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CFTC to Discuss Cap and Trade Regulation

September 16, 2009

Carbon Emission Trading Likely to See Future Regulation
The Waxman-Markey cap and trade bill which was passed in Congress earlier this year (currently waiting for Senate approval) has had a number of interested parties discussing what cap and trade regulation in the U.S. will look like and how the various government agencies will regulate the new [...]

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SEC Budget to Double Under Schumer Proposal

September 15, 2009

Embarrassed Agency Would Get Much Needed Funding
“The SEC’s failure to catch Bernie Madoff shows a level of incompetence unseen since FEMA’s handling of Hurricane Katrina” — Charles Schumer
To say that the SEC is or should be embarrassed about the Madoff scandal is an understatement (please see our most recent discussion on the SEC and Madoff).  [...]

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Upcoming Hedge Fund Industry Events 2009

September 14, 2009

Hedge Fund Events in September, October & November 2009

September 23, 2009 - Southeastern Hedge Fund Association Meting
October 7, 2009 - Bay Area Hedge Fund Roundtable
October 8, 2009 - South Florida Hedge Fund Managers
October 21, 2009 - Portland Alternative Investment Association
November 5, 2009 - Connecticut Hedge Fund Association
November 12, 2009 - Seattle Alternative Investment Association (Northwest [...]

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