Opalesque Exclusive – A timely reminder that the SEC deadline for hedge fund registration is creeping upon us comes from Jon Wilson, director of project consulting, at compliance consultancy and professional financial services firm, The IMS Group. Based in London and New York, IMS has 600 client relationships, in a compliance business that has been built around the asset management, and particularly the alternatives, industry.
“The background is that for some time now the SEC has had a sceptical view of the hedge fund and private equity industries” says Wilson in an interview with Opalesque. The reforms brought in under Dodd Frank mean that while before a private fund with less than 15 investors did not need to register, now all funds with more than 14 investors and more than $25m under management and a business in the US will have to register with the SEC. The final deadline is 21st July which when backed up to accommodate possible delays and the current 45 day turnaround at the SEC means applications need to be in by the end of May.
