Purpose – To describe new tools for measuring the value of investment research. Design/methodology/approach – Discusses recent developments in the investment research industry, explains why recent enforcement and regulatory developments stimulate the need to measure the performance and...

Purpose – The purpose of this article is to describe the process for forming and registering a new investment company (or mutual fund) or converting an existing hedge fund into a mutual fund and registering the converted fund. This article discusses the timing, tax and regulatory implications...

Purpose – This paper seeks to discuss regulatory clarifications provided by the SEC since the June 2006 DC Court of Appeals decision in Goldstein v. Securities and Exchange Commission disrupted the SEC's hedge fund registration framework and other recently promulgated investment adviser...

Purpose – This paper seeks to discuss the Guidance Note on disclosure of hedge fund side letters issued by the UK's Alternative Investment Management Association (AIMA) in September 2006. Design/methodology/approach – Explains the meaning of “material” and “non‐material” and...

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...

Purpose – The purpose of this paper is to summarize and discuss FINRA Rule 2821, which covers broker‐dealer sales practices with respect to purchases and exchanges of deferred variable annuities. Design/methodology/approach – The paper describes the transactions to which the rule applies;...

Purpose – The current financial crisis revealed weaknesses in the US financial system, including the difficulty of valuing complex assets. This paper seeks to examine regulatory and compliance issues for hedge funds valuing complex assets. Design/methodology/approach – Within the context of...

Purpose – The purpose of this paper is to explain the content, purpose, and likely effects of the European Commission's draft directive on Alternative Investment Fund Managers published on April 30, 2009. Design/methodology/approach – The paper explains which firms will be affected by the...

Purpose – The purpose of this paper is to clearly set forth before fund business leaders certain current relevant investment management compliance regulatory issues, to communicate the necessary areas of expertise and duties of a chief compliance officer (CCO), and to reinforce the need for...

Purpose – The purpose of this paper is to explain the results of a June 18, 2009 Joint US Department of Labor‐Securities and Exchange Commission hearing regarding Target Funds as investment options for individual and company‐sponsored retirement plans. Design/methodology/approach – The...