
Lessons in law for advisers
Q&A

The US hedge fund market is known for its stringent regulations and the most recent measure to be introduced includes the implementation of a new Rule 203(b)(3)-2, which will require hedge fund advisers to register with the SEC under the Investment Advisers Act of 1940 by Febuary 1 this year. The new rule will eliminate the ability of hedge fund advisers to rely on an exemption from adviser registration designed for advisers providing advice only to a small number of clients.
Michael Tannenbaum
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