SEC Proposal Would Ban Third Party Solicitors from Seeking Public Monies Back in July there was much discussion about new “pay to play” rules proposed by the SEC.  The proposed “pay to play” rules would limit the ability of investment managers (including hedge fund managers) to make political contributions and [...]

Embarrassed Agency Would Get Much Needed Funding “The SEC’s failure to catch Bernie Madoff shows a level of incompetence unseen since FEMA’s handling of Hurricane Katrina” — Charles Schumer To say that the SEC is or should be embarrassed about the Madoff scandal is an understatement (please see our most [...]

Obama Administration to Regulate Derivatives Markets Today the Treasury announced that the Obama Administration proposed a bill named the “Over-the-Counter Derivatives Markets Act of 2009″.  The bill proposes to amend a number of the securities laws (including the Commodity Exchange Act, the Securities Act of 1933 and the Securities Exchange [...]

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 [...]

In May we reported that the SEC was requesting comments on the new Proposed Investment Adviser Custody Rules.  The SEC’s comment period ended this past week with a flurry of activity before the submission deadline.  As we reported previously, there has been a general industry backlash against the rule because [...]

http://www.hedgefundlawblog.com SEC Approves  New Exam for “Limited Representative” Investment Bankers The long anticipated Series 79 Examination has finally received approval by the SEC, and information will now be made available to the public regarding the content of the exam, the modifications to the original licensure rules, and the scope and [...]

One of the major regulatory pushes this year by the SEC has been to revamp the short sale rules.  Today the SEC announced some specific measures which are intended to curtail abusive short sales.  We will likely have more comments on this issue going forward and will publish hedge fund [...]

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 [...]

Post courtesy of www.series79exam.com. SEC to Shed Light on the New Series 79 Exam Pursuant to a proposal set forth by FINRA in February of this year, it is anticipated that the Series 79 will be introduced as a simplified alternative exam for investment bankers. Prior to the introduction of [...]

SEC Commissioner Aguilar Proposes Registration For Funds with as little as $25MM of AUM Just today I had an opportunity to review the transcript of a speech by SEC Commissioner Aguilar in which he advocates that funds with as little as $25MM of AUM should register with the SEC.  Such [...]