From the category archives:

Legal Resources

Important Hedge Fund Articles

August 21, 2010

As of the date we published this list of important hedge fund articles, the Hedge Fund Law Blog has over 600 posts.  In order to highlight some of the more important items on this website we have created the following list of articles which we think will be useful for most of our readers.  Articles [...]

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Wall Street Reform Bill Issues – Performance of State Securities Regulators

July 5, 2010

As we move closer to the signing of the Dodd-Frank Wall Street Reform and Consumer Protection Act, more groups are highlighting the fact that state securities divisions are going to be affected by the act.  After pressure from NASAA, the association of state securities regulators, Congress has provided that state regulators will be required to [...]

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Hedge Fund Court Case | SCERS v. Epsilon Global

July 1, 2010

www.hedgefundlawblog.com Recently, the U.S. District Court for the Western District of Washington came down with a ruling primarily addressing two issues for hedge fund managers: (1) providing investors with timely annual reports and financial statements and (2) delayed redemptions that could bar the management company from charging management fees (see Seattle City Employees’ Retirement System v. [...]

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Massachusetts Hedge Fund Exemption

June 30, 2010

Exclusion From Definition of Investment Adviser Generally Massachusetts will require hedge fund managers with a place of business in Massachusetts to register as an investment adviser with the Massachusetts Securities Division.  However, there is an exemption from registration for some hedge fund managers located in Massachusetts.  [Note: to be more accurate, the “exemption” really is [...]

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Massachusetts RIA Net Worth Reminder

June 24, 2010

Today we received an email reminder from the Massachusetts Securities Division with respect to investment adviser minimum financial requirements.  Essentially hedge fund managers registered as investment advisers with Massachusetts will either need to (i) post a $10,000 surety bond or (ii) establish a separate account with $10,000 and maintain a positve net worth.  Managers who choose to establish the [...]

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Regulation D Annual & Interim Amendments

March 29, 2010

Form D Updating Requirements Initial Filing Requirement As discussed in our overview of Regulation D, hedge funds must file a Form D with the SEC within 15 days of the first subscription of hedge fund interests.  This filing is now done completely online through the SEC’s EDGAR filing system.  If you have any questions on [...]

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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 [...]

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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 [...]

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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 [...]

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Qualified Eligible Person (QEP) Definition

December 24, 2009

The securities laws can be written obtusely and the definition of a qualified eligible person (QEP) may be one of the best examples of this.  There is no quick and easy definition of a what a QEP is so we are trying to make it as easy as possible to understand.  This post discusses the [...]

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