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 [...]

Employees of Registered IAs Must Generally be Registered State-registered investment advisory firms need to make sure that their employees who are deemed to be “investment advisory representatives” are appropriately registered. This means that any employee (or owner) of the IA firm who provides investment advice or who has supervisory authority [...]

Venture Capital Funds May Not Have to Register with Hedge Funds While hedge funds have reluctantly resigned to the likely fate of SEC registration (see MFA Supports Registration), the venture capital community has been fighting hard to remain unregistered.  On this front, the VC community enjoyed a victory last week [...]

Over the past few months I have written extensively about the new regulatory environment and the likelihood that many hedge fund managers will need to register with the SEC within the next year or so (assuming that Congress passes one of many proposed registration bills).  Anticipating this requirement, my team [...]

How to get an IA application approved quickly Occasionally we find the opportunity to comment on other blog posts from other legal professions within and outside of the investment management industry.  A legal blogger who I regularly follow is David Feldman from the Reverse Mergers & SPAC Blog.  David is [...]

Testimony Concerning Regulating Hedge Funds and Other Private Investment Pools The SEC released a testimony from Andrew J. Donohue before the U.S. Senate about the regulation of hedge funds and other private investment pools.  According to Mr. Donohue’s statement, securities laws have not kept pace with the growth market and [...]

Bart Mallon, Esq. http://www.hedgefundlawblog.com ****UPDATE 10/27/2009**** The House Financial Services Committee voted on October 27, 2009 to pass the Private Fund Investment Advisers Registration Act of 2009 as H.R. 3818 (full text of bill as passed – please note that it is different from the earlier version of the bill [...]

Another Bill Introduced in Senate to Regulate Hedge Funds Congress now has three separate bills regarding hedge fund registration.  The most recent bill is called the Private Fund Transparency Act of 2009 and was introduced by U.S. Senator Jack Reed (D-RI) on June 16, 2009. I will continue to update [...]

Endorses House Bill Over the Grassley-Levin Hedge Fund Bill Last week the North American Securities Administrators Association (NASAA) announced its support of the Hedge Fund Adviser Registration Act of 2009, a house bill introduced earlier this year by Representatives Capuano and Castle.  The Hedge Fund Adviser Registration Act is one [...]

Congressional Bill Proposed in House In January we gave significant attention to the Hedge Fund Transparency Act of 2009 and we did not focus at all on a similar bill introduced in the House of Representatives.   The Hedge Fund Adviser Registration Act of 2009, introduced on January 27, would change [...]