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Lisa Snyderman Benedicte Gravrand, Opalesque Geneva for New Managers: Consultant Lisa Snyderman shares her experience as an outsourced chief compliance officer (CCO), and a few tips for small and new fund managers.
Lisa Snyderman: The US Securities and Exchange Commission (SEC) rules have recently changed; hedge funds with regulatory assets under management exceeding $100 million have been required to register with the SEC since the Dodd-Frank Act. Now many of the hedge funds have to register and be audited by the SEC. So it’s a new process for them.
There are two ways to file with the SEC for a new hedge fund. You can go through an attorney who will write your legal documents that are correct but not practical; or you have a compliance officer who does filings from beginning to end and does not charge as much as attorneys do.
Opalesque: What have you observed in your experience working with smaller fund managers?
Lisa Snyderman: I live in Stamford, Connecticut, and in this area there are a lot of small money managers.
What I am finding is that smaller firms don’t really have the regulatory experience. Hiring somebody who has the experience can get very expensive, and a small firm might not need somebody full-time. As there are a number of consultants, myself included, who can be an outsourced CCO, a small firm can get somebody with a lot of experience ...................... To view our full article Click here
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