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Financial Reform Act: Impact on Hedge Funds, Private Equity
 

Financial Reform Act: Impact on Hedge Funds, Private Equity

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Presentation outlines the impact of the Financial Reform Act on hedge funds and private equity firms. Provides snapshot of new hedge fund regulations and private equity regulations.

Presentation outlines the impact of the Financial Reform Act on hedge funds and private equity firms. Provides snapshot of new hedge fund regulations and private equity regulations.

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    Financial Reform Act: Impact on Hedge Funds, Private Equity Financial Reform Act: Impact on Hedge Funds, Private Equity Presentation Transcript

    • Financial Reform Bill: Snapshot of Impact on Hedge Funds, Private Equity
      July 2010
      This presentation is for general information purposes only and does not constitute Eze Castle Integration legal or investment advice as to any particular set of facts.
    • Situation Snapshot
      July 16, 2010: Senate approves Conference Report to Dodd-Frank Wall Street Reform and Consumer Protection Act
      Hedge fund and private equity regulation and registration coming
      President Obama to sign into law
      Expected week of July 19, 2010
      Download the Conference Report
    • What’s included in the Reform Bill…
      Registration: Hedge funds and private equity firms with >$150 million in AUM must register with the SEC
      Less than $150 million? You’re exempt.
      Greater State Supervision: Threshold for federal regulation of investment advisers is being raised from $30 million to $100 million
      Allowing for greater state supervision of advisers
      “Private Adviser” exemption in Investment Advisers Act of 1940 eliminated, “thus registering advisers to private funds with the SEC.”
    • What’s included in the Reform Bill…
      Accredited Investor redefined:
      $1 million net worth, excluding value of primary residence
      Charging performance fee? Investor generally needs $1.5 million net worth with primary residence included
      Increased Reporting: SEC has power to require advisers give info on trades and portfolios as necessary to assess systemic risk
      SEC can require advisers to disclose identity or investments of their clients for purposes of systemic risk
      SEC will report annually to Congress on uses of data to protect investors and market integrity
    • What’s included in the Reform Bill…
      Whistle-blowing:An incentive – up to 30% of funds recovered for information provided – has been put in place to encourage whistle-blowing.
      Timeline: Advisers must comply with the new provisions within one year of enactment of the conference report
    • How to Prepare? Technology Aspects
      Data Protection
      President’s Working Group say’s hedge funds should have Business Continuity and Disaster Recovery plans
      Solutions: Eze Disaster Recovery & Eze Business Continuity Planning
      Data Archiving
      SEC advises firms retain all internal and external email and IM communications
      Solution: Eze Archiving
    • Eze Castle Integration Overview