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. **** [...]

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 [...]

Below are a list of some of the news stories which caught my attention this week. **** 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.  [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 — [...]