The Core: Practical Advisers Act Compliance for the Private Fund Adviser

It’s no secret that investment advisers to hedge funds, private equity, and other private funds have been subjected to intense regulatory scrutiny of late. Yet, until recently, most were not required to register under the Investment Advisers Act and were not subject to any of its rules.

Enter the market crisis of 2008.

In the fallout, Dodd-Frank amended the Act, ushering in a new world of government oversight for private fund advisers—a world fraught with pitfalls!

Among other things, fund advisers are expected to adopt compliance programs to meet the requirements of innumerable provisions of law, regulations, interpretations, and no-action letters. Most of these were never intended to apply to, and are often ill-fitted to, address the practices of private fund advisers. Whether a seasoned pro or novice, it can be a challenge to sort out what is truly applicable from what is not.

This invaluable resource provides candid advice to help clear up the confusion.

The Core identifies the foundational requirements that all private fund advisers must address within their compliance programs. In plain English, The Core helps advisers to recognize regulatory risks and prepare controls to meet expectations, protect investors, and pass an SEC examination.