Hedge Fund Compliance - Risks, Regulation, and Management

Informationen zum Autor JASON A. SCHARFMAN is managing partner of Corgentum Consulting, a consulting firm specializing in operational due diligence reviews and background investigations of fund managers on behalf of investors. A leading expert in the field of due diligence, he is author of Hedge Fund Governance, Private Equity Operational Due Diligence, and Hedge Fund Operational Due Diligence. Klappentext The long-awaited guide for modern hedge fund compliance program developmentHedge Fund Compliance + Website provides straightforward, practical guidance toward developing a hedge fund compliance program, drawn from the author's experience training financial regulators, consulting with government entities, and analyzing hedge fund compliance structures across the globe. In-depth explanations of compliance principles are backed by illustrative case studies and examples. Highly in-demand templates of popular hedge fund compliance documentation provide actionable illustrations of key compliance policies. Designed to assist investors, fund managers, service providers, and compliance job seekers directly, this book describes the fundamental building blocks of the hedge fund compliance function.Compliance is one of the fastest growing areas in the hedge fund space. This reference book provides an essential foundation in modern hedge fund compliance, reflecting the recent changes of this dynamic field.* Design and run a hedge fund compliance program* Access templates of core compliance documentation and checklists* Discover how investors can evaluate and monitor compliance programs* Interviews with hedge fund compliance practitionersA steady stream of regulatory changes, combined with the enhanced enforcement efforts of regulators, ensure that hedge funds' compliance-related expenditures will continue to grow. While hedge fund compliance legislation continues to evolve globally, little practical guidance exists for those tasked with the boots-on-the-ground aspects of developing an actual compliance program to comply with best practices and regulatory guidance from leading hedge fund regulators including the US Securities and Exchange Commission, the National Futures Association, the Commodity Futures Trading Commission and the United Kingdom's Financial Conduct Authority. Hedge fund professionals and investors need a fundamental framework for establishing and evaluating an effective program, and when compliance is the issue, trial and error carries too much risk. Hedge Fund Compliance + Website provides clear guidance and practical tools to meet today's compliance professional needs. Zusammenfassung The long-awaited guide for modern hedge fund compliance program developmentHedge Fund Compliance + Website provides straightforward! practical guidance toward developing a hedge fund compliance program! drawn from the author's experience training financial regulators! consulting with government entities! and analyzing hedge fund compliance structures across the globe. In-depth explanations of compliance principles are backed by illustrative case studies and examples. Highly in-demand templates of popular hedge fund compliance documentation provide actionable illustrations of key compliance policies. Designed to assist investors! fund managers! service providers! and compliance job seekers directly! this book describes the fundamental building blocks of the hedge fund compliance function.Compliance is one of the fastest growing areas in the hedge fund space. This reference book provides an essential foundation in modern hedge fund compliance! reflecting the recent changes of this dynamic field.* Design and run a hedge fund compliance program* Access templates of core compliance documentation and checklists* Discover how investors can evaluate and monitor compliance programs* Interviews with hedge fund compliance practitionersA steady stream of regulatory changes! co...

List of contents

Preface xi
 
CHAPTER 1 Introduction to Hedge Fund Compliance 1
 
Introduction 1
 
Differences in Hedge Fund and Other Alternative Fund Compliance 1
 
Hedge Fund Compliance Is Not Specific to One Country 4
 
Do Alternative Investments Merit Special Compliance Considerations? 5
 
Understanding the Hedge Fund Compliance Framework 9
 
Introduction to the Hedge Fund Compliance Function 10
 
Distinguishing the Legal and Compliance Departments 11
 
Key Players in Compliance 12
 
Standard Areas Covered by a Hedge Fund Compliance Function 14
 
Compliance Function Roles and Authority 16
 
Chapter Summary 17
 
Notes 17
 
CHAPTER 2 Introduction to Hedge Fund Regulation and Examination 18
 
Introduction 18
 
Different Types of Regulation for Different Financial Entities 18
 
Why Regulation Is Needed 20
 
Where Do Compliance Rules Come From? 22
 
National and Global Jurisdiction 23
 
Common Regulatory Interaction with Hedge Funds 24
 
Regulatory Examinations 25
 
Chapter Summary 28
 
Notes 28
 
CHAPTER 3 The Chief Compliance Officer and Regulatory Reporting 30
 
Introduction 30
 
Introducing the Chief Compliance Officer 30
 
Regulatory Reporting 34
 
Regulatory Reporting in Multiple Jurisdictions 34
 
Common Regulatory Reporting Questions 35
 
A Multistep Process 35
 
Chapter Summary 40
 
Notes 41
 
CHAPTER 4 In-House Compliance Professionals and Hedge Fund Committees 42
 
Introduction 42
 
Common Compliance Function Tasks 43
 
Firm Committees as Compliance Mechanisms 49
 
Chapter Summary 53
 
Note 54
 
CHAPTER 5 Hedge Fund Compliance Technology 55
 
Introduction 55
 
Understanding the Hedge Fund Information Technology Function 55
 
Primary Compliance Uses of Technology 58
 
Compliance Considerations for Use of Electronic Data 59
 
Compliance Oversight of Nonelectronic Data 64
 
Business Continuity and Disaster Recovery Planning 64
 
Chapter Summary 65
 
Notes 66
 
CHAPTER 6 Compliance Consultants and Other Compliance-Related Service Providers 67
 
Service Provider Compliance 67
 
Classification of Compliance Service Providers 67
 
Service Provider Compliance Work 68
 
Hedge Fund Compliance Consultants 69
 
Chapter Summary 82
 
Note 82
 
CHAPTER 7 Understanding Key Compliance Documentation 83
 
Reasons for Documenting Compliance Policies and Procedures 83
 
Understanding the Goals of Compliance Documentation 84
 
Jurisdictional Differences in Compliance Documentation 85
 
Understanding Boilerplate Documentation 85
 
Core Compliance Documentation 88
 
Chapter Summary 97
 
Note 98
 
CHAPTER 8 Investor Evaluation of Hedge Fund Compliance Functions 99
 
Introduction 99
 
Compliance Evaluations in Investor Due Diligence 99
 
Initial and Ongoing Compliance Analysis 101
 
Evaluating Best Practice Compliance 104
 
Key Compliance Analysis Areas 109
 
Chapter Summary 118
 
Note 118
 
CHAPTER 9 Case Studies and Example Scenarios in Hedge Fund Compliance 119
 
Introduction 119
 
Compliance Scenario 1 119
 
Compliance Scenario 2 122
 
Case Studies 123
 
Chapter Summary 129
 
Notes 129
 
CHAPTER 10 Common Compliance Pitfalls and How to Avoid Them 131
 
Introduction 131
 
Pitfall 1: Small Fir

Product details

• Authors: Ja Scharfman, Jason A Scharfman, Jason A. Scharfman, Scharfman Jason A.
• Publisher: Wiley, John and Sons Ltd
• Languages: English
• Product format: Hardback
• Released: 17.01.2017
• EAN: 9781119240235
• ISBN: 978-1-119-24023-5
• No. of pages: 208
• Series: Wiley Finance; Wiley Finance Editions; Wiley Finance; Wiley Finance Editions
• Subjects: Social sciences, law, business > Business > Business administration; Finanzwesen, Finance & Investments, Finanz- u. Anlagewesen, Spezialthemen Finanz- u. Anlagewesen, Finance & Investments Special Topics, Capital markets and securities law and regulation