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Category Archives: law

Hedge Fund Adviser Alert: New Form SLT Deadline Approaching

Holland & Knight - Effective September 30, 2011, the new Treasury International Capital (TIC) Form SLT is required to be filed by certain large investment advisers.  The first filing deadline will be October 24, 2011, for any investment adviser that has $1 billion or more of reportable securities (defined below) as of the last business day of the reporting month (to the extent […]

Sadis & Goldberg: Municipal Advisers Registration Alert

Municipal Advisers* are to register with the SEC  by December 31, 2011, according to hedge fund law firm Sadis & Goldberg. “Municipal Advisers” who missed the filing deadline last year may also be subject to enforcement action for acting as an unregistered “Municipal Adviser.” *The Dodd-Frank Act defines a “Municipal Adviser” as any person who provides advice to or on behalf […]

FINRA Alert: Broker-Dealer Operations Professionals Must Register

Effective October 17, 2011, certain personnel involved in the back office operations of a broker-dealer must pass a FINRA qualification examination, and subsequently register as an Operations Professional. The Rule further requires senior management having direct responsibility over such personnel to also register. Operations Professionals can be considered: (i) senior management with a direct responsibility over back office functions; (ii) […]

Hedge Fund Alert: “Spinning Prohibition Rules” effective Sept 26

Via Sadis & Goldberg – All hedge fund managers that invest in “new issues” will need to update their funds’ Subscription Documents for new investors and recertify their existing investors in order to continue to be eligible to purchase “new issues” under the “Spinning Prohibition Rules” adopted by the Financial Industry Regulatory Authority, Inc. (“FINRA”). The Spinning Prohibition Rules generally […]