WEST PALM BEACH, FL (www.hedgeco.net) – The SEC�s mandatory hedge fund registration laws due to start in about nine months is causing major challenges for hedge fund managers and advisors. Accordingto Buchanan Associates many managers will have to spend countless hours to create and manage the compliance process in order to satisfy the SEC requirements.
Emmett Ryan, director of Buchanan Hedge Fund Services said, �As hedge fund managers well know, the SEC now requires most investment advisors to hedge funds to register and become subject to its oversight.� He also noted, “We estimate that 8,000 such investment advisors will be required to register by next February 1. Upon registering, these firms will have to develop and maintain compliance procedures.�
Buchanan Hedge Fund Services has developed a Compliance Checklist for investment advisors and hedge funds to help them plan for the upcoming SEC registration. The firm also serves as a complete compliance counseling and outsourcing solution for investment advisors to hedge funds.
Ryan also said, “Registration is easy, creating compliance procedures and maintaining compliance is the hard part, requiring a significant amount of record-keeping and a high level of consistency. In order to meet the SEC’s timeframe, firms will need to start planning for compliance no later than July 1 of this year.� He added, “Developing a compliance program is all about creating and managing documents and creating audit trails. If you’ve already registered, our checklist will help you begin to manage the process of developing compliance procedures. If you haven’t registered yet, reviewing our compliance checklist is good way to start,” said Mr. Ryan.
Buchanan Associates is one of the nation�s largest and most respected financial and regulatory compliance outsourcing firms. The firm is headquartered on Wall Street in New York City.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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