Trends for Distressed Debt Hedge Fund Managers Distressed debt hedge funds often face a number of legal issues with regard to their investments.  Post-Lehman, understanding the rights and liabilities attached to the actual contracts has become paramount for managers.  The following article, contributed by Karl Cole-Frieman of Cole-Frieman & Mallon [...]

By Bart Mallon, Esq. (www.colefrieman.com) State Securities Agency Calls PAMM Accounts Securities Forex investment managers who offer forex separately managed account programs need to be aware of the risks of offering trading programs which use PAMM accounts.  PAMM accounts are functionally equivalent to “bunched” or “batched” order master accounts which [...]

Information on Study Materials and Classes for Series 79 Exam One of the inquires I receive most often about the Series 79 exam involves study materials.  As of right now I have not heard of any groups who have produced a study guide or other materials for this exam.  I [...]

By Bart Mallon, Esq. (www.colefrieman.com) “Purchased Lead Lists and How to Use Them” A good resource for CTAs that are actively trying to raise money are lead lists – lists of names and contact information of potential future clients or investors.  This overview is for the CTA Expo 2009 program [...]

The following Treasury press release can be found here.  Please also see the article on earlier PPIP closings. **** Treasury Announces Additional initial closing of Legacy Securities Public Private Investment Fund November 5, 2009 TG-357 Treasury Department Announces Additional initial closing of Legacy Securities Public Private Investment Fund WASHINGTON — [...]

E&O or D&O Insurance For Registered Investment Advisers Yesterday I had the opportunity to talk with an insurance broker whose business focuses on providing insurance to registered investment advisers and hedge fund managers.  This article is based on that conversation. Insurance Premiums for Small Funds For smaller funds (say less [...]

SEC Proposed Pay to Play Rules Draw Many Comments Earlier this year the SEC proposed so-called “pay to play” rules which would restrict SEC registered investment advisers from managing money from state and local governments under certain circumstances.  According to the SEC press release, “the measures are designed to prevent [...]

The following are various hedge fund events happening this month. **** November 2 Sponsor: University of Oregon Lundquist College of Business Securities Analysis Center Event: Portland Alternative Investment Association – Educational Event Location: Portland, OR November 3 – November 5 Sponsors: Battea – Class Action Services, LLC,  Citco Banking Services, [...]

Investment Banking Representative Exam Goes Live Today marks the first day that current Series 7 licensed representatives of BDs who engage in “investment banking activities” can opt in to the Series 79 license.  Current Series 7′s will need to talk with their compliance department who will be able to complete [...]

By Bart Mallon, Esq. (www.colefrieman.com) “Compliance in a Changing Environment” As we are all well aware both the investing and the regulatory environments have experienced a dramatic refocusing on compliance and related issues in the wake of the 2008 meltdown and the Bernie Madoff affair.  This overview is for the [...]