Purpose – The aim of this article is to provide a description of the rule proposals and other events that preceded the SEC's adoption of the 2005 Final Rule, a summary of the terms of the 2005 Final Rule, and a brief update regarding the status of the 2005 Final Rule....

Purpose – The purpose of this article is to explore what the author believes to be some of the key challenges facing hedge fund managers that are preparing for registration with the Commission under the Investment Advisers Act of 1940 (“Advisers Act”). Design/methodology/approach –...

Purpose – To summarize changes to the communication, registration, and offering process under the Securities Act of 1933 as adopted by the Securities and Exchange Commission on June 29, 2005 – three changes that will modify and significantly enhance the communication, registration, and...

Purpose – To describe and to discuss the implications of the new National Association of Securities Dealers, Inc. (NASD) and New York Stock Exchange (NYSE) uniform branch office definition for broker‐dealers, approved on September 9, 2005, as found in the definitions of “branch office”...

Purpose – To describe and to discuss the implications of the US Department of the Treasury's PATRIOT Act regulations requiring “covered financial institutions” (including broker‐dealers, banks, and mutual funds) to maintain risk‐based procedures to ensure that: correspondent accounts...

Purpose – To describe how the role of the compliance function and the compliance officer originated in the UK, how it has evolved over the past 20 years, how boundaries are defined for the compliance function's areas of responsibility, and how the compliance function is expected to change over...

Purpose – The purpose of this paper is to summarize record‐keeping requirements for Securities and Exchange Commission (SEC)‐registered advisers of private investment companies, especially hedge funds. Design/methodology/approach – Summarizes the important record‐keeping provisions of...

Purpose – To provide a detailed description of personal trading policies that apply to hedge fund managers. Design/methodology/approach – Summarizes Sections 206(1) and (2) of the Investment Advisers Act of 1940 (“Advisers Act”), particularly with regard t disclosure of conflicts...

Purpose – This paper aims to provide an analysis and report on the current regulatory environment for US hedge funds and explore the latest actions from governmental groups and the private sector. Design/methodology/approach – A compilation of the most recent government communications,...