Insights

Investment advisors registered with the Securities and Exchange Commission may charge performance fees only to clients who meet the definition of “qualified client” under SEC Rule 205-3. In Release No. 1A-3198, the SEC announced that it intends to issue an order increasing the dollar thresholds contained in the definition of “qualified client.” Currently, a client…

Client Alerts | May 18, 2011 | Securities and Corporate Finance | Hedge Funds

In November 2009, the SEC, along with seven other agencies1, adopted amendments to the rules implementing certain privacy provisions of the Gramm-Leach-Bliley Act (the “GLBA”) and adopted a model privacy form (the “Model Form”). In order for financial institutions (including investment advisors) to fall within the safe harbor for satisfying their initial and annual privacy…

Client Alerts | April 18, 2011 | Securities and Corporate Finance | Hedge Funds

In a letter to the president of the North American Securities Administrators Association, the Associate Director of the U.S. Securities and Exchange Commission (the “Commission”) Division of Investment Management, Robert E. Plaze, stated that although the Commission’s staff anticipates that the implementing rulemaking under the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank…

Client Alerts | April 10, 2011 | Securities and Corporate Finance | Hedge Funds

The Securities and Exchange Commission (the “SEC”) adopted amendments (the “Amendments”) to Part 2 of Form ADV (commonly referred to as the “brochure” and currently designated Part II of Form ADV).1 The Amendments are intended to provide advisory clients with clearly written, meaningful, current disclosure of the business practices, conflicts of interest and background of…

Client Alerts | January 24, 2011 | Securities and Corporate Finance | Hedge Funds

As hedge funds continue to grow, the market’s demand for investment returns has sparked an increasing interest in direct real estate investments – traditionally the domain of private equity funds. There are a number of issues that a hedge fund manager should carefully consider prior to investing fund assets directly in real estate. This Newsletter…

Client Alerts | April 30, 2007 | Hedge Funds