Purpose – The purpose of this paper is to explain restrictions on nonqualified deferred compensation arrangements contained in Section 409A of the Internal Revenue Code. Design/methodology/approach – The study explains the background to Section 409A, how Section 409A applies to hedge funds,...

Purpose – The purpose of this paper is to analyze new SEC Rule 206(4)‐8 under the Investment Advisers Act of 1940 and discuss its practical implications. Design/methodology/approach – The paper describes the new rule, the types of advisers and funds to which the rule applies, examples of...