New York (HedgeCo.net) – Total hedge fund assets under management on a global basis are estimated at $2,700 billion according to a survey of custodians and administrators.

Renowned hedge fund lawyer, Michael Tannenbaum, believes that hedge fund regulation needs some coordination on a global scale. Tannenbaum is a founding partner of Tannenbaum Helpern Syracuse and Hirschtritt LLP where he heads the Firm’s Financial Services, Private Funds and Capital Markets Group.

“Any effective regulation of a global market needs foster a global approach.” Tannenbaum says, “It cannot be perceived as being protectionist on either side of the Atlantic. Germany’s decision to ban short selling, the EU’s Alternative Investment Management Directive, the UCITS Directive and now the Senate’s US regulatory overhaul, are all pieces of a puzzle that need to fit together properly if there is to be an efficient global marketplace, the emphasis being on the word global.”

Tannenbaum has written numerous articles regarding hedge fund laws and regulations, the most recent being “Hedge Fund Regulatory Outlook for 2009,” and “How to Set up a Hedge Fund in the US.” He has served as both an arbitrator in complex hedge funds cases as well as an expert witness.

He is active with the Managed Funds Association in the US and has served as co-chair of the Steering Committee of the Legal Issues Forum. He has also served on committees at the London-based Alternative Investment Management Association, presented at meetings of the International Bar Association and is a past president of the Hedge Fund Association. He is an active member of the Hedge Fund Subcommittee of the Business Law Section of the American Bar Association.

Alex Akesson
Editor for HedgeCo.net
alex@hedgeco.net
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