Posts tagged as:

hedge fund investment advisor

Net Capital Requirement for State Registered Hedge Fund Managers

July 6, 2009

Overview of Net Capital Requirement and Bond Alternative
Hedge fund managers who need to register as investment advisors in their state of residence often have to deal with the net capital requirement issue.  Usually there will be two separate net capital requirements for the investment advisor (meaning the fund’s management company) depending on the nature of [...]

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Form U4 and Form U5 Amendments

June 16, 2009

NASAA Requests Comments on Proposed Changes
Form U4 is the form used by Investment Advisory firms to register investment advisor representatives with their firm.  It is also used by broker-dealers to register reps with their firms.  Form U5 is used by both IA and BD firms to terminate a representative’s employment with such firm.  While I [...]

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Proposed Amendments to the Investment Advisers Act: SEC Requests Feedback

May 28, 2009

The 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 [...]

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SEC Chairman Discusses Potential New IA Custody Rules

April 28, 2009

Hedge Fund Advisors May be Impacted

Yesterday SEC Chairman Mary Schapiro discussed many new SEC initiatives in a speech given to the Society of American Business Editors and Writers.  One of the new initiatives involves those advisors who have “custody” of client assets.  With respect to such advisors, Shapiro said:
I anticipate that this proposal will include [...]

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SEC Hedge Fund Registration Exemption – Section 203(b)(3) and Rule 203(b)(3)-1

December 19, 2008

Exemption from the Registration Provisions of the Investment Advisors Act
We have discussed the SEC hedge fund registration exemption many times before, but we have not addressed it directly.For most management companies with a single hedge fund client, registration is actually a relatively easy and straightforward process.  Once hedge fund managers are registered as investment advisors [...]

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Oregon Hedge Funds - Investment Advisor Issues

December 14, 2008

Questions and Answers on Oregon Investment Advisor Registration For Hedge Funds
Some states will provide a good source of information to start up hedge fund managers which details whether the hedge fund manager will need to register as an investment adviser in the state of residence.  The following resource is from the Oregon Division of Finance [...]

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California Investment Advisor Exemption for Certain Hedge Fund Managers

November 20, 2008

In the article Connecticut Hedge Fund Registration Exemption, we discussed that certain states like Connecticut provide administrative orders allowing hedge fund managers an exemption from the registration provisions under certain circumstances.
Similarly certain states have provided a similar exemption to hedge fund managers through the securities commission rule making process.  For example, California Rule 260.204.9 provides [...]

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