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West Palm Beach (HedgeCo.net) – Financial administration automation specialist, Confluence, released a new whitepaper for hedge fund administration executives, entitled "Hedge Fund Reporting: The Change Imperative".
"Mandates from investors, regulators, and auditors are driving significant change in hedge fund back offices," said Kirk Botula, Executive Vice President and Chief Operating Officer of Confluence. "Each group is demanding new levels of due diligence, transparency, and disclosure that are driving never-before-seen hedge fund reporting requirements. Technology and automation can improve processes and offer the speed, control and flexibility needed in this new reporting environment."
A recent Rothstein Kass survey showed that 98% of hedge fund managers expect increased regulation of the hedge fund industry by the new administration—adding to burdens already imposed by FAS 157, FAS 161, and International Financial Reporting Standards.
The whitepaper also provides practical advice to help ensure that reporting processes are sufficient to meet these heightened demands. It offers best-practice recommendations and includes a "Sample Checklist" to help administrators evaluate their operations, whether they rely on outside service providers or their own internal back offices.
Alex Akesson
Edtior for HedgeCo.Net Email: alex@hedgeco.net
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HedgeCo.Net – The "post-Madoff era" and the litigious society in which firms operate today have presented many operational risks that are beyond control. Managers are not getting paid to take those risks and the consequences can be devastating.
Regulatory investigations and private litigations are on the rise and may result in expensive legal defense and the allocation of resources away from your business.
The new administration supports increased transparency and the regulation of hedge funds. In addition, there is an immense amount of international pressure in favor of regulation. This has made it very politically attractive to support the legislation of industry regulation, which may potentially threaten your business.
But there are options.
At CBS Coverage, the Financial Institutions Risk Group is focused solely on protecting your fund, its investors, and yourself.
CBS provides an excellent added value to your hedge fund and can help increase your investor confidence and trust.
All Headline News – Hedge funds will require registering under a new proposal to regulate the market segment that lost $600 billion in 2008 due to financial crisis, an all time record.
Under the bill by two senators today would lead to the regulation of hedge funds by the Securities and Exchange Commission, a step that is considered to protect investors and prevent the U.S. financial system from further sinking into the recession.
The Hedge Fund Transparency Act, sponsored by Senator Carl M. Levin (D-Mich.) and Charles E. Grassley (R-Iowa), was filed on Thursday amid the new administration’s initiative to overhaul some legislation of the regulatory system.
Market Watch – No new president in the modern era, save for Franklin Roosevelt, has been handed an opportunity to remake the almost every part of the market. Barack Obama and his administration will decide everything from who lives and dies to what rules by which the survivors will play.
Roosevelt’s reforms lasted about 70 years. If the new administration, with the help of Wall Street, can build something that lasts half as long, I think everyone would be OK with that. Match FDR’s run, and history will see it as a rousing success.
