We partner with clients to develop and implement streamlined, practical solutions to the increasingly complex regulatory environment, from formation to day-to-day operations, including:
Outside general counsel: We advise hedge fund advisers on almost all day-to-day legal issues that arise, from review and negotiation of commercial contracts to routine employment matters.
Formation: We craft customized, market friendly organizational and offering documentation that focuses on managing litigation and enforcement risk.
Registration: We guide hedge funds through the investment adviser registration process at the federal and state levels. We draft and revise registration documentation for clarity, consistency, and risk control.
Compliance: We provide continuous regulatory and compliance counseling in securities, commodities, and other laws applicable to a hedge fund’s trading and investment functions. We provide timely, market-oriented compliance counseling in an array of areas, including:
Compliance Procedures: We help hedge funds craft and implement customized, practical compliance policies and procedures. We draft compliance procedures from the perspective of how the industry actually works and how the regulators and investors examine and evaluate hedge funds.
Annual Compliance Reviews: We conduct annual and special compliance reviews for hedge fund adviser firms to satisfy Investment Advisers Act requirements and other purposes. Our rates are competitive with those of major compliance firms.
In 2018, we expect the SEC to focus on the adequacy of corporate policies and procedures in detecting and preventing the misuse of material, non-public information. We also expect the Commission to continue to focus on fee disclosure and conflicts of interest, the allocation of expenses and investment opportunities at private equity funds and hedge funds, and valuation. We further anticipate that the SEC will increase its focus on cybersecurity with an emphasis on ensuring that private funds’ cybersecurity policies and procedures are both sufficient and being followed, and that such funds have conducted a cybersecurity “risk inventory.”