Changing Hedge Fund Landscape Key Focus of Foundation for Accounting Education’s 2009 Hedge Funds and Alternative Investments Conference

On July 29, 2009, the Foundation for Accounting Education presented the 2009 Hedge Funds and Alternative Investments Conference in New York City.  During the one-day event, industry participants discussed the changing landscape for hedge funds, including new demands from investors and the most recent regulatory developments.  A key theme echoed by the participants was that hedge funds need to be better prepared to deal with the changes that are coming, from registration to new valuation policies to increased examinations, not only by the Securities and Exchange Commission (SEC) but by the Internal Revenue Service (IRS) as well.  We detail the key take-aways from the conference, including a discussion of the erosion of trust among hedge fund managers and investors; pressure on hedge fund fees; likely changes in hedge fund regulation; expanded SEC examinations of hedge fund managers and improvements to the training of the SEC’s hedge fund examination staff; and the new IRS Managed Funds Group.

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