Overview:
Hedge funds have come to play a prominent role in the functioning of US capital markets. Designed for the financial or tax professional who would like to learn about the "nuts and bolts" of the hedge fund industry, this one-of-a-kind seminar will enable you to:
- Understand the accounting, auditing and tax rules
- Analyze the best structures for both onshore and offshore funds
- Follow the latest regulatory developments, including the impact of the Dodd-Frank Act
Objective:
To provide financial and tax professionals with a thorough understanding of the formation, operation and taxation of hedge funds. You'll explore the regulatory, audit, accounting and tax regimes governing hedge funds and other types of investment vehicles.
Emphasis:
- Current federal and state laws on registration of hedge fund managers as investment advisors
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Formation
– SEC, CFTC and Treasury Department regulation
– Special audit and accounting rules for hedge funds
– Valuation issues for investment positions
– What kinds of investors to target and how to solicit them
– What kinds of structures are best for the types of investors a fund is targeting, including retirement plans and other tax-exempt investors
– Choosing appropriate advisors, brokers and professionals
– Due diligence issues for investors and their advisors in selecting, deselecting a hedge fund
– Impact of Dodd-Frank Act on hedge funds, particularly institutional managers
– Selecting the optimal tax and accounting structures
– Designing appropriate compensation arrangements -
In-depth analysis of hedge funds
– Do's and don'ts for avoiding qualification under the Investment Company Act of 1940 and commodity pool operator regulations
– Typical provisions in the partnership agreement and related organic documents
– Break points, partnership allocations, leverage - Due diligence pointers for avoiding disasters
- Emerging tax issues
