From the category archives:

compliance

San Francisco Futures Professionals March Meeting | March 16, 2010

March 12, 2010

NFA Regulations and Capital Raising on Agenda
The San Francisco Futures Professionals Group (LinkedIn Group) will be meeting next week to discuss the most recent NFA Regulatory Seminar.  Bart Mallon of Mallon P.C. will be providing an overview of the major regulatory items discussed at the seminar including the new NFA rule on social media, issues [...]

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CPO Annual Financial Report Filing

February 16, 2010

Information on Filing Annual Report with NFA
Commodity Pool Operators (”CPOs”) are required to distribute an Annual Report, certified by an independent public accountant, to each participant in each pool it operates (i.e. the investors in the commodity/futures hedge fund) within 90 days after the pool’s fiscal year-end (normally December 31).  CPOs are also required under the [...]

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California Investment Advisor Annual Compliance Reminder | 2010

February 14, 2010

(www.hedgefundlawblog.com)
State registered investment advisory firms usually have annual compliance requirements.  The following discusses the major issues for investment advisors (both hedge fund and separately managed account managers) who are registered in California.  In general, there is (i) an annual updating requirement and (ii) an annual financial filing requirement.
Annual ADV Updating Amendment
Registered investment advisers will need [...]

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Recent Issues with NFA Annual Questionnaire

February 12, 2010

As we discussed in an earlier post on NFA Annual Questionnaire, NFA Member Firms are required to complete the questionnaire on an annual basis.  The information helps the NFA in a variety of ways and the NFA encourages members to update their questionnaire on a regular basis, although firms are only required to complete it, at [...]

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NFA Self-Examination Checklist 2010 | FCMs, IBs, CPOs and CTAs

February 8, 2010

Easy Step by Step Guide for NFA Member Firms
NFA Member Firms are all required to complete a yearly self-examination checklist to ensure that the Member Firm is complying with all the NFA Rules (as well as the CFTC Regulations and other applicable laws).  The NFA has provided some resources on their website.  We believe that [...]

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CFTC Provides Annual Guidance to CPOs

January 28, 2010

Annual Report Guidance for Commodity Pool Operators
In a recent release, which we have reprinted in full below, the CFTC reminds CPOs of their annual reporting requirements under Regulation 4.22.  The release includes a link to the 2010 CPO Annual Guidance Letter.  In general the letter provides another reminder to CPOs to file their annual reports [...]

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CTA and CPO Foreign Language Disclosure Documents

January 20, 2010

Translating a Disclosure Document to Another Language is Fine
NFA Member Firms are required to have their disclosure documents reviewed by the NFA generally before such firms can distribute the documents to potential investors.  One issue which sometimes arises is when the firm (generally either a CTA or CPO) has potential clients/investors who are non-U.S. citizens [...]

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NFA Provides Social Networking Compliance Guidance

January 12, 2010

Member Firms Subject to Increased Oversight & Compliance Responsibilities
In early December the National Futures Association (“NFA”) submitted two proposed amendments proposed amendments to the Commodity Futures Trading Commission (“CFTC”) regarding NFA Member Firms and their use of the internet and social media networks.  The amendments focus on communications by firms over the internet in various [...]

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NFA Annual Questionnaire

January 11, 2010

Reminder to NFA Member Firms
As part of the annual processes and procedures NFA Members will need to make sure that they complete the NFA Annual Questionnaire.  As discussed below in the NFA’s most recent notice to members, it is important that NFA Members complete the questionnaire because some of the answers will appear as BASIC [...]

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Series 65 and Series 66 Passing Grade Increased

November 27, 2009

IA Exams Pass Rates Expected to Plummet

The North American Securities Administrators Association (“NASAA”) recently announced that the two central investment advisor exams (the Series 65 and the Series 66) will become even more difficult.  Starting January 1, 2010 candidates will need to attain a score of 72% in order to pass the Series 65 exam [...]

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