Comments on: Hedge Fund Start Up Presentation http://www.hedgefundlawblog.com/hedge-fund-start-up-presentation.html Blogging on hedge fund laws, starting a hedge fund, news and events... Thu, 05 Jan 2012 15:32:15 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Investment Adviser Representative Information Now Publicly Available on IAPD — Hedge Fund Law Blog http://www.hedgefundlawblog.com/hedge-fund-start-up-presentation.html/comment-page-1#comment-6892 Investment Adviser Representative Information Now Publicly Available on IAPD — Hedge Fund Law Blog Fri, 29 Jul 2011 17:24:22 +0000 http://www.hedgefundlawblog.com/?p=1992#comment-6892 [...] Hedge Fund Start Up [...] [...] Hedge Fund Start Up [...]

]]> By: Recap of San Francisco CFA Hedge Fund Event — Hedge Fund Law Blog http://www.hedgefundlawblog.com/hedge-fund-start-up-presentation.html/comment-page-1#comment-5489 Recap of San Francisco CFA Hedge Fund Event — Hedge Fund Law Blog Tue, 28 Sep 2010 16:09:53 +0000 http://www.hedgefundlawblog.com/?p=1992#comment-5489 [...] How to Start a Hedge Fund [...] [...] How to Start a Hedge Fund [...]

]]> By: Form ADV Part 2 and State Registration — Hedge Fund Law Blog http://www.hedgefundlawblog.com/hedge-fund-start-up-presentation.html/comment-page-1#comment-5119 Form ADV Part 2 and State Registration — Hedge Fund Law Blog Mon, 16 Aug 2010 09:46:25 +0000 http://www.hedgefundlawblog.com/?p=1992#comment-5119 [...] Starting a Hedge Fund [...] [...] Starting a Hedge Fund [...]

]]> By: New Accredited Investor Definition — Hedge Fund Law Blog http://www.hedgefundlawblog.com/hedge-fund-start-up-presentation.html/comment-page-1#comment-5066 New Accredited Investor Definition — Hedge Fund Law Blog Sat, 31 Jul 2010 20:07:39 +0000 http://www.hedgefundlawblog.com/?p=1992#comment-5066 [...] How to Start a Hedge Fund [...] [...] How to Start a Hedge Fund [...]

]]> By: Commodity Position Limits After Dodd-Frank — Hedge Fund Law Blog http://www.hedgefundlawblog.com/hedge-fund-start-up-presentation.html/comment-page-1#comment-5053 Commodity Position Limits After Dodd-Frank — Hedge Fund Law Blog Fri, 30 Jul 2010 05:18:30 +0000 http://www.hedgefundlawblog.com/?p=1992#comment-5053 [...] Starting a Hedge Fund [...] [...] Starting a Hedge Fund [...]

]]> By: New Form ADV Part 2 Format Released — Hedge Fund Law Blog http://www.hedgefundlawblog.com/hedge-fund-start-up-presentation.html/comment-page-1#comment-5051 New Form ADV Part 2 Format Released — Hedge Fund Law Blog Fri, 30 Jul 2010 04:30:20 +0000 http://www.hedgefundlawblog.com/?p=1992#comment-5051 [...] Starting a Hedge Fund [...] [...] Starting a Hedge Fund [...]

]]> By: SEC Approves ADV Part II Update — Hedge Fund Law Blog http://www.hedgefundlawblog.com/hedge-fund-start-up-presentation.html/comment-page-1#comment-5034 SEC Approves ADV Part II Update — Hedge Fund Law Blog Sun, 25 Jul 2010 20:08:29 +0000 http://www.hedgefundlawblog.com/?p=1992#comment-5034 [...] Starting a Hedge Fund [...] [...] Starting a Hedge Fund [...]

]]> By: Page not found — Hedge Fund Law Blog http://www.hedgefundlawblog.com/hedge-fund-start-up-presentation.html/comment-page-1#comment-5029 Page not found — Hedge Fund Law Blog Sun, 25 Jul 2010 04:35:15 +0000 http://www.hedgefundlawblog.com/?p=1992#comment-5029 [...] Registration & Compliance Guide Start Up Hedge Fund Presentation Recommended Start Up Articles Hedge Fund Business & Technical Articles Forex Hedge Fund Articles [...] [...] Registration & Compliance Guide Start Up Hedge Fund Presentation Recommended Start Up Articles Hedge Fund Business & Technical Articles Forex Hedge Fund Articles [...]

]]> By: Steve B http://www.hedgefundlawblog.com/hedge-fund-start-up-presentation.html/comment-page-1#comment-4059 Steve B Sun, 24 Jan 2010 03:01:52 +0000 http://www.hedgefundlawblog.com/?p=1992#comment-4059 Question: If I have less than 15 clients in Florida, live in FL and managed two small hedge-funds (total managed assets of less than $25MM for all of the preceding) BUT have more than 15 client accounts (some in the same family), including the two funds, but meet the De minimis threshold for each state individually, including less than 15 clients in FL, do I have to register??? (that was a mouthful!) I currently am registered and have been audited by FL several times with no issues, but would rather not be registered if there is no need. Thanks for any insights! Question: If I have less than 15 clients in Florida, live in FL and managed two small hedge-funds (total managed assets of less than $25MM for all of the preceding) BUT have more than 15 client accounts (some in the same family), including the two funds, but meet the De minimis threshold for each state individually, including less than 15 clients in FL, do I have to register??? (that was a mouthful!)

I currently am registered and have been audited by FL several times with no issues, but would rather not be registered if there is no need.

Thanks for any insights!

]]> By: Hedge Fund Lawyer http://www.hedgefundlawblog.com/hedge-fund-start-up-presentation.html/comment-page-1#comment-3912 Hedge Fund Lawyer Thu, 24 Dec 2009 18:35:18 +0000 http://www.hedgefundlawblog.com/?p=1992#comment-3912 Tony, For the first question, as I understand from talking to my audit/CPA colleagues both the management company and fund would be required to pay the CA franchise tax if the management company is based in CA. I am not sure if all funds with management companies based in CA take that position however. This is definitely an issue the management company should discuss with the accountant/auditor. Generally most hedge funds are (still) established as limited partnerships. It is my understanding that there are potentially negative tax consequences for establishing a fund in CA as an LLC. This is also an issue to discuss with the accountant/auditor. Many times it will be a conversation held between the manager, lawyer and accountant. Hope this helps. Regards, Bart Mallon, Esq. Tony,

For the first question, as I understand from talking to my audit/CPA colleagues both the management company and fund would be required to pay the CA franchise tax if the management company is based in CA. I am not sure if all funds with management companies based in CA take that position however. This is definitely an issue the management company should discuss with the accountant/auditor.

Generally most hedge funds are (still) established as limited partnerships. It is my understanding that there are potentially negative tax consequences for establishing a fund in CA as an LLC. This is also an issue to discuss with the accountant/auditor. Many times it will be a conversation held between the manager, lawyer and accountant.

Hope this helps.

Regards,
Bart Mallon, Esq.

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