How to Handle Level 2 and 3 Asset Valuation Challenges

To shed light on valuation-related issues, the Hedge Fund Law Report hosted a webinar on November 18, 2020, that was moderated by Robin L. Barton, Associate Editor of the HFLR, and featured Benjamin Kozinn, partner in Lowenstein Sandler’s investment management practice group, and Hugh Nelson, director in Houlihan Lokey's portfolio valuation and fund advisory business.

Legal and Compliance Employment Trends in 2020: Staffing, Recruitment, Compensation and Diversity

What is the right size for a fund manager’s legal and compliance department? How has the market for in-house legal and compliance support compensation changed in recent years? What are best practices fund managers can use to address diversity issues in the current climate? How has the coronavirus pandemic affected – and, in some cases, helped – the above? These questions are only a few of the ones tackled during a webinar cohosted by the Hedge Fund Law Report (HFLR) and its sister product, the Private Equity Law Report (PELR). The program was moderated by William V. de Cordova, Editor-in-Chief of the HFLR and PELR, and featured Jennifer J. Pearson, head of human resources and employment counsel at Deerfield Management; David Claypoole, president and founder of Claypoole Executive Search; and Julie Siegel, executive managing director, chief administrative officer and deputy chief legal officer at Sculptor Capital. 

Key Topics for Fund Manager GCs and CCOs in Light of Coronavirus

The ongoing coronavirus pandemic has led to a need for fund manager GCs and CCOs to step up and exhibit leadership, Stroock partner Michael Emanuel told the Hedge Fund Law Report in a popup webinar, entitled “Coronavirus: Practical Implications for Fund Manager GCs/CCOs.” During the fireside chat, which was moderated by William  V. de  Cordova, Editor-in-Chief of the Hedge Fund Law Report, Emanuel provided valuable insight for fund manager GCs and CCOs on ways the coronavirus has affected fund managers’ businesses, including with respect to operational due diligence, valuation, trading continuity and employment matters; issues relating to business continuity and disaster recovery planning; regulatory considerations triggered by the pandemic; concerns managers may face relating to third-party service providers; and factors regarding costs of mitigating the pandemic’s effects.

Best Practices for Private Fund Managers’ Use of Alternative Data

On Wednesday, January 15, 2020, the Hedge Fund Law Report hosted a webinar that addressed issues relating to the use of alternative data by private fund managers, including the pros and cons of generating or purchasing datasets; managing third-party data providers; complying with data privacy laws and cybersecurity guidance; and avoiding insider trading and other risks. The webinar was moderated by William V. de Cordova, Editor-in-Chief of the Hedge Fund Law Report, and featured Adam Reback, director at Optima Partners; Stacey M. Brandenburg, shareholder at ZwillGen; and Jeffrey Neuburger, partner at Proskauer.

“Fireside Chat” With SEC Commissioner Hester M. Peirce Focused on Private Funds

On October 3, 2019, the Hedge Fund Law Report presented a webinar, entitled “Focus on Private Funds: A Fireside Chat With SEC Commissioner Hester M. Peirce.” During the program, Robin L. Barton, Senior Reporter for the Hedge Fund Law Report, and Commissioner Peirce discussed topics of interest to private fund managers, such as the Interpretation Regarding Standard of Conduct for Investment Advisers; the Concept Release on Harmonization of Securities Offering Exemptions; chief compliance officers and the SEC’s focus on individual accountability; the SEC’s adaptation to the modern asset management industry, particularly in the application of the custody and advertising rules; and the SEC’s role as regulator versus enforcer. Commissioner Peirce also answered attendees’ questions during a Q&A session at the end of the webinar.

Strategies and Tactics for Conducting an Effective Tabletop Exercise

The Hedge Fund Law Report and our sister product, the Cybersecurity Law Report, hosted a webinar on Tuesday, July 30, 2019, discussing the strategies and tactics fund managers can employ to conduct an effective tabletop exercise. The webinar was moderated by Shaw Horton, Associate Editor of the Hedge Fund Law Report, and featured Luke Dembosky, partner at Debevoise, John “Four” Flynn, chief information security officer at Uber, and Jill Abitbol, Senior Editor of the Cybersecurity Law Report.

Best Practices for AML Compliance by Private Fund Managers

The Hedge Fund Law Report hosted a webinar on May 30, 2019, that discussed the key components of a robust AML program. The webinar was moderated by Kara Bingham, Senior Editor of the Hedge Fund Law Report, and featured Seetha Ramachandran, partner at Proskauer and former Deputy Chief in the Asset Forfeiture and Money Laundering Section at the DOJ’s Criminal Division; Lucy Frew, partner at Walkers and head of the firm’s global regulatory and risk advisory group; and Sarah Curran, director at Promontory Financial Group and former member of the SEC’s Private Funds Unit.

Pros, Cons and Trends in the Use of Subscription Credit Facilities

In addition to discussing key considerations and prevailing trends in the use of subscription credit facilities by private fund managers, this fireside chat touched on a range of topics related to subscription credit facilities, including the appeal of these facilities; ways they are used by managers; methods for addressing investor and SEC scrutiny of these facilities; trends in structuring and negotiating these facilities; their recent adoption by other private fund vehicles (e.g., hedge funds and direct lending funds); and an overview of other types of facilities commonly used by private funds (e.g., portfolio liquidity facilities and management company facilities). The webinar was moderated by Rorie Norton of the Hedge Fund Law Report and featured Thomas Draper, partner at Foley Hoag, and Michael Mascia, partner at Cadwalader.

Recent Trends in SEC Examinations of Private Fund Managers

In addition to discussing how examiners from the SEC’s Office of Compliance Inspections and Examinations are currently approaching examinations of private fund managers, this program addressed several examination-related topics, including: the life cycle of an SEC examination; recent SEC examination initiatives; key areas of focus during examinations of private fund managers; and ways fund managers can remain prepared for an SEC examination. Moderated by Kara Bingham, Senior Editor of the Hedge Fund Law Report, the webinar featured Andrew M. Calamari, partner at Finn Dixon & Herling and former Director of the SEC’s New York Regional Office; Patricia A. Poglinco, partner at Seward & Kissel; and Joel A. Wattenbarger, partner at Ropes & Gray.

How Fund Managers Should Respond to Recent Trends & Developments in Employment Law

Robin L. Barton, Senior Reporter at the Hedge Fund Law Report, hosted a one-on-one discussion with Richard J. Rabin, partner at Akin Gump and head of the New York office’s labor and employment group. In addition to discussing current trends and developments in employment law, the program tackled various pressing employment topics, such as sexual harassment in the workplace, including the #MeToo movement and associated legislation; pay equity and related lawsuits in the private funds industry; developments in arbitration and what they mean for fund managers; the Trump NLRB and its implications for the private funds industry; bans on requesting salary history information; and family-, sick- and safe-leave requirements. CLE credit is available in NY, NJ, CA and TX.

An Introduction to Fund Finance Structures

In this webinar, the panelists discussed the main features of the key financing options available to private funds, including prime brokerage financing; structured repurchase agreements; special purpose vehicle financing; total return swap financing; and subscription credit facilities, as well as recent developments in the fund finance market. The webinar was moderated by Kara Bingham, Senior Editor of the Hedge Fund Law Report, and featured Jeff Johnston, managing director at Wells Fargo Securities, LLC; Fabien Carruzzo, partner at Kramer Levin; and Matthew K. Kerfoot, partner at Dechert.

Cryptocurrency and Private Funds: What Investors and Managers Need to Know About Emerging Regulatory Trends

Blockchain technology and the related cryptocurrency asset class are rapidly evolving and present traps for unwary fund managers. In this presentation, the Hedge Fund Law Report examined regulatory developments affecting cryptocurrencies; scrutiny of initial coin offerings (ICOs); the recent SEC examination sweep of firms that trade cryptocurrencies; and custody and other compliance issues faced by advisers who hold digital currencies. 

How Advisers Can Avoid Common Deficiencies Under the Advertising Rule

In this webinar, panelists discussed how advisers can avoid common deficiencies in their marketing materials and advertising practices under Rule 206(4)-1 of the Investment Advisers Act of 1940, commonly referred to as the “Advertising Rule.” This presentation offered a detailed review of the advertising deficiencies identified in the September 2017 Risk Alert issued by the SEC’s Office of Compliance Inspections and Examinations, discussed how advisers can avoid these sorts of deficiencies in their own marketing materials and built on the topics discussed in our three-part advertising compliance series: “Ten Best Practices for a Fund Manager to Streamline Its Compliance Review” (Sep. 14, 2017); “Five High-Risk Areas for a Fund Manager to Focus on When Reviewing Marketing Materials” (Sep. 21, 2017); and “Six Methods for a Fund Manager to Test Its Advertising Review Procedures” (Sep. 28, 2017). The webinar was moderated by Kara Bingham, Senior Editor of the Hedge Fund Law Report, and featured Christine M. Lombardo, partner at Morgan Lewis; Richard F. Kerr, partner at K&L Gates; and Todd Kaplan, founder and principal of Cloudbreak Compliance Group.

2016-17 Side Letter Trends: A Conversation With Seward & Kissel's Steve Nadel

The Hedge Fund Law Report and Seward & Kissel co-produced this webinar in which William V. de Cordova, Editor‑in‑Chief of the Hedge Fund Law Report, and Seward & Kissel partner Steve Nadel discussed issues fund managers commonly face with respect to side letters and how the side letter landscape evolved over the past year. As Seward & Kissel had completed its second annual study of side letters entered into by its hedge fund manager clients, considering the prevalence and features of common side letter provisions, the webinar provides valuable insights gleaned by Nadel – lead author of the study.