Time for a fresh look at advisory registration of hedge fund managers

This article will attempt to summarize some of the major analytic issues on the investment advisory registration front, then focus upon registration policy and assumptions as they impact the hedge fund sector specifically, and lastly, briefly consider various alternatives to hedge fund manager regis...

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Bibliographic Details
Published in:The Investment Lawyer 2006-10, Vol.13 (10), p.3
Main Author: Cobb, Jeffrey B
Format: Article
Language:English
Subjects:
False advertising
Hedge funds
Investment Advisers Act 1940-US
Investment advisors
Policy making
Provisions
Regulation of financial institutions
SEC registration
Securities law
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Summary:This article will attempt to summarize some of the major analytic issues on the investment advisory registration front, then focus upon registration policy and assumptions as they impact the hedge fund sector specifically, and lastly, briefly consider various alternatives to hedge fund manager registration, some of which remain to be fully explored. Registration under the Advisers Act, through the required filing of a Form ADV, contended the SEC, will provide the SEC with information they need to better understand the operation of hedge fund advisers, to plan examinations, to better develop regulatory policy, and to provide data and information to members of Congress and other government agencies. In the Adopting Release, the SEC stated, Registration with the SEC permits them to screen individuals associated with the adviser, and to deny registration if they have been convicted of a felony or had a disciplinary record subjecting them to disqualification. The Advisers Act and many state advisory statutes contain registration exemptions based upon the number or type of clients, or both.
ISSN:1075-4512