Category Archives: tax

Hedge Fund Compliance: SEC Private Fund Registration Deadline

Private fund adviser registration is here, meaning a whole new world of compliance risk has become a reality. Successful registration means more than just filling out a form and the March 2012 deadline is fast approaching. Remember, in order to be registered by the deadline, you must file by February. If you haven’t already taken the steps necessary to protect your […]

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 […]

Hedge Fund Compliance Alert: Broker-Dealer Financial Audits Under Scrutiny

The SEC last week released a proposal that would strengthen the financial audit standards for broker-dealers under Exchange Act Rule 17a-5, hedge fund regulatory expert FrontLine Compliance reported yesterday. The goal is to increase the audit standards for those brokers that have custody of client funds and securities, similar to the enhanced custodial audit provisions for registered investment advisers that became effective […]

Compliance Alert: Registration for hedge fund/private fund advisers

On Wednesday, June 22nd, the SEC is holding an Open Meeting to discuss the proposed registration rule for private fund advisers, the proposed exemptions to registration for certain private fund advisers, and the proposed exclusion for family offices. Many private fund advisers have been expecting a delay in the compliance date for SEC registration. However, one key point cannot be […]

SEC: Key Trigger Dates

The SEC has recently updated its Q&A on Part 2 of Form ADV. It clarified certain sections of the new form and explained how to respond in certain scenarios. Key take-aways from the update include: Key Trigger Dates Currently registered SEC advisers with a fiscal year-end between December 31, 2010 and April 30, 2011 must deliver the new Form ADV […]