From the category archives:

News and Commentary

Securities Exam Changes in 2010

February 15, 2010

Series 63, Series 65 and Series 66 Changed as of January 1, 2010
In an earlier post, we discussed that the passing grades for the Series 65 and 66 have increased.  Below is further information from the Securities Training Corporation on the changes to the securities exams in 2010.
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The Series 63, 65, and 66 Examinations Are [...]

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Fund Appreciation Rights

December 6, 2009

Alternative Hedge Fund Compensation Structure
At the very beginning of this year there was much discussion about the hedge fund compensation structure in light of the horrible returns from 2008.  Many funds lost money but managers aren’t typically subject to the same types of clawback provisions as private equity fund managers.  Additionally some funds had to [...]

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Weekly Hedge Fund News Stories | November 30 - December 4

December 5, 2009

Below are a list of some of the news stories which caught my attention this week.
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Hedge Fund Carried Interest Tax “Loophole” Repeal? - the hedge fund carried interest “loophole” is again being discussed as a potential issue to be addressed by Congress before the end of the year.  One proposal introduced by Representative Levin (R) [...]

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Hedge Funds, the Secondary Market and PTP Issues

December 4, 2009

Secondary Hedge Fund Market Poses Issues for Fund Managers
Recently there have been a number of groups springing up to provide a secondary hedge fund market.  While such platforms provide investors with a potential avenue to get out of their illiquid investment (the investment in the fund may be illiquid for a number of reasons including [...]

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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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Job Applicant - Fund Accounting and Portfolio Analysis

November 25, 2009

Normally I do not use this blog as an area to advertise job openings or the resume’s of prospective job applicants, but I wanted to make an exception for a good friend of mine.  If you know of any career opportunities in portfolio analysis or fund accounting, please let me know.  The following is information [...]

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Hedge Fund Manager Registration to Cost Taxpayers $140 Million (at least)

November 17, 2009

CBO Calculates Cost of House Hedge Fund Bill
This past week the Congressional Budge Office (“CBO”) released a cost estimate of H.R. 3818, the Private Fund Investment Advisers Registration Act of 2009.  In a number of private conversations I have had about hedge fund registration over the last 9-12 months one of the issues that was [...]

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Secondary Loan Market | LSTA Conference

November 10, 2009

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 & Beugelmans, provides some background on a recent [...]

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Series 79 Training Materials | Series 79 Study Guide

November 7, 2009

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 know that both Kaplan and STC [...]

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Another PPIP Closing

November 5, 2009

The following Treasury press release can be found here.  Please also see the article on earlier PPIP closings.
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Treasury Announces Additional initial closing of Legacy Securities Public Private Investment Fund
November 5, 2009
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Treasury Department Announces Additional initial closing of Legacy Securities Public Private Investment Fund
WASHINGTON — The U.S. Department of the Treasury today announced that RLJ Western [...]

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