Sunday, 24 May 2015
Last updated 2 days ago
Nov 18 2005 | 8:42pm ET
It seems that when it comes to hedge fund compliance, one person's pain is another one's gain. Firms specializing in hedge fund compliance tools are aiming to cash in with a series of new products promising to ease the burden of those pesky regulatory procedures. At least four products have hit the market this week alone, including a certification service and a compliance manual.
London- and Bermuda-based Amber Partners, a specialist firm that sifts though hedge funds' corporate documents and trading records, unveiled a service on Wednesday that offers to "certify" a fund's operations following a thorough investigation. What it will not do, however, is review a managers' investments or trading risk.
Amber Partner's stamp of approval does not come cheap. The firm charges between $40,000 and $500,000 to conduct a review.
The Hedge Fund Manual also hit the shelves this week. Kluwer Financial Services, which launched the product, claims the online manual "simplifies and expedites" the process of documenting a hedge fund's policies and procedures. The firm said its application addresses the SEC regulations mandating hedge funds to have a compliance manual in place.
So, with the hundreds of products and services out there claiming to cure hedge fund headaches, perhaps it's only a matter of time before someone launches a product rating the products.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…