2003 Hedge Funds Forum: What to Do About the Latest Developments

2003 Hedge Funds Forum:

WHAT TO DO ABOUT THE LATEST DEVELOPMENTS

CPE CREDIT: 8 HOURS • MCLE CREDIT: UP TO 8 HOURS • COST: $695

THE FORUM AGENDA

CONTINENTAL BREAKFAST & REGISTRATION

8:00–8:30am

WELCOME & OPENING REMARKS

8:30-8:45am

LEGAL ISSUE COMMENTARY

8:45-9:15am

   Current investigations: market timing, short selling and manipulation

   Current Regulatory Initiatives: retail marketing, conflicts of interest, fraud

CURRENT REGULATORY ENVIRONMENT

9:15-10:30am

   Expanded trading for Rule 4.5 entities

   Exemptions from CPO and CTA registration under certain conditions

   Expanded communication by CPOs and CTAs, including electronic methods

BREAK

10:30-10:45am

MAJOR NEW DEVELOPMENTS AFFECTING...

10:45-11:45am

   CFTC registration

   Patriot Act, ERISA rules, offshore funds

   Brokers selling hedge funds

   New tax laws and fund structuring

INSURANCE PRODUCTS

11:45am-12:15pm

   How to structure the most tax efficient investments for hedge fund investors

   Why the IRS's new rules are so helpful to the industry

   Avoiding insurance disasters   learn from the mistakes of others

LUNCH

12:15-1:15pm

FINANCIAL ACCOUNTING UPDATE

1:15-2:00pm

   Applicability of the Audit Guide for Investment Companies

   Partnership Statement of Position

   Regulatory impact on accounting and reporting (Part 4 CFT)

   Fund of funds issues

   Transparency and valuation issues

NEW DEVELOPMENTS IN FINANCE

2:00-2:45pm

   Registered funds for institutional money managers

   Structured notes, wrap fee accounts

   What managers and investors look for in compensation arrangements

BREAK

2:45-3:00pm

TAX ISSUES

3:00-4:15pm

   How to respond to the IRS’s Hedge Fund Audit Manual

   What to do when the IRS comes knocking

   Do’s and don’ts for Hedge Fund Offering Documents

   New IRS guidance on complex financial products aimed at hedge funds

   Tax issues raised by the Spitzer investigation into market timing

PERFORMANCE PRESENTATION

4:15-5:00pm

   New rule amendments for the computation and presentation of rate of return and other disclosures concerning past performance

   Core principle   presentation of performance of partially funded accounts

   Expanded eligibility of bunched trading

FORUM ENDS

5:00pm

SPEAKERS
Thomas Ayers, Partner, Deloitte & Touche LLP
Ronald Carletta, Commodity Futures Trading Commission
Roger Coffin, Partner, PricewaterhouseCoopers
Ronald Geffner, Partner, Sadis & Goldberg LLC
Richard Marshall, Partner, Kirkpatrick & Lockhart LLP
Steven B. Nadel, Partner, Seward & Kissell's Investment Management Group

FORUM CHAIRPERSONS
Victoria Pellegrino, CPA, is the CFO of Bessent Capital, one of the largest hedge fund companies. Formerly Partner-in-Charge of the Financial Services Group of Eichler Bergsman & Co., she has written about the use of derivatives by hedge funds.

Roger D. Lorence, JD, LLM, is a Tax Practitioner in private practice in New York City, specializing in the taxation of financial products and financial services companies and their owners and investors. He is a widely published expert on hedge funds.

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