May 14, 2009
Hedge Funds to be Subject to “Surprise Exams”
In addition to the likelihood of hedge fund registration, the SEC is now proposing to have “gatekeepers” to make sure that investment advisors are not engaged in any fraudulent behavior. When and if such a requirement is adopted, it will further burden investment advisors with more paperwork. “Surprise [...]
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January 28, 2009
Yesterday the Senate Banking Committee held a hearing on the Madoff scandal. Those present included: Senator Christopher J. Dodd; Professor John C. Coffee, Adolf A. Berle Professor of Law, Columbia University Law School; Dr. Henry A. Backe, Orthopedic Surgeon; Ms. Lori Richards, Director, Office of Compliance Inspections and Examinations, U.S. Securities and Exchange Commission; Ms. [...]
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Proposed Amendments to the Investment Advisers Act: SEC Requests Feedback
May 28, 2009The Securities and Exchange Commission (SEC) is proposing certain amendments to the custody rule under the Investment Advisers Act of 1940 and related forms. Due to the complexity of the various impositions placed on industry professionals by the proposed amendments, the SEC is formally requesting feedback from industry professionals regarding the impact of the new [...]