Relaxing the rules

In our role as counsel to various European hedge fund promoters, one issue we often come across is the reluctance of a significant number of European-promoted hedge funds to accept US investors into their funds for fear of subjecting themselves to US regulation, reporting and compliance.

Among the issues of concern are registration obligations with the Securities and Exchange Commission (SEC) and/or the Commodity Futures Trading Commission (CFTC), US tax accounting and reporting, and compliance w