Lynn Stout takes the recent charges against arrest of Raj Rajaratnam, founder of the Galleon Group, and the recent raids on expert networks as an indictment of the entire hedge fund industry. She makes the mistake of using a few bad apples to state the whole industry is corrupt. The vast majority of hedge funds
On Friday, The Securities and Exchange Commission will be considering rules that should be of interest to private investment fund managers. It looks like we may have the first look at how the SEC will define a venture capital fund and who will fit into that new exemption to registration under the Investment Advisers Act.
On Thursday, May 7, 2009, the House Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises held a hearing on: “Perspectives on Hedge Fund Registration”. During the hearings on legislation to regulate hedge fund advisers, Rep. Paul Kanjorski said that hedge funds deserve to “continue swimming in the deep end of the pool.” But if
Bingham McCutchen has put together a Recommended Annual Review for Hedge Funds and Other Private Fund Managers. Bingham put together a laundry list of regulations, policies and filings that you should review on at least an annual basis: Compliance Policies and Procedures Form ADV Part 1 and Form ADV Part II Form SH Anti-Fraud Rule
The President’s Working Group on Financial Markets Report of the Asset Managers’ Committee uses this as a definition of “hedge fund.” By “hedge fund” we mean a pooled investment vehicle that generally meets most, if not all, of the following criteria: (i) it is not marketed to the general public (i.e., it is privately offered),
Senator Charles Grassley of Iowa is looking to expand the registration requirements of the Investment Advisers Act. According to Jim Hamilton’s World of Securities Regulation, the Senator Will Reintroduce in 111th Congress Bill Requiring SEC Registration of Hedge Fund Advisers. The Washington Post story has Senator’s Grassley’s statement coming out of the House Oversight and
Former SEC Chair David Ruder testified to the House Oversight and Government Reform Committee that the SEC should be given the power to register hedge funds advisers and force them to disclose their risks. This testimony was part of the testimony of Congress Examining Hedge Funds. You can read the Testimony of David Ruder (.pdf). Mr.
On Thursday November 13, 2008, The House Commitee on Oversight and Government Reform held a hearing on hedge funds and the financial market. The following witnesses testified: Professor David Ruder, Northwestern University School of Law, Former Chairman, U.S. Securities and Exchange Commission Professor Andrew Lo, Director, MIT Laboratory for Financial Engineering, Massachusetts Institute of Technology,