HedgeOp Releases New Hedge Funds Application For SEC Compliance

HedgeOp Compliance, LLC, a provider of specialized compliance software and consulting services for alternative asset managers, releases the ComplianceTrak Form SH Platform, a tool for hedge funds to efficiently and cost effectively meet new Securities and Exchange Commission (SEC) reporting

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HedgeOp Compliance, LLC, a provider of specialized compliance software and consulting services for alternative asset managers, releases the ComplianceTrak Form SH Platform, a tool for hedge funds to efficiently and cost effectively meet new Securities and Exchange Commission (SEC) reporting requirements for short sales.

The Form SH Platform is an add-on to ComplianceTrakTM software, a powerful, patented workflow tool that enables managers to meet their compliance requirements. The Form SH Platform can be purchased as add-on to ComplianceTrak TM, or as a stand-alone product.

“The SEC estimates that the Form SH filing process can take up to 20 hours per week to complete, at a cost of $1000 per filing. HedgeOp’s Form SH Platform automates this time-intensive process, reducing the time spent on each filing by approximately 75%,” says said Bill Mulligan, CEO, HedgeOp compliance. “The Form SH Platform saves staff resources, which over the course of the year add up to a significant and meaningful reduction in operational costs.”

On 15 October 2008, the SEC mandated weekly Form SH filing requirements for money managers to document their short sales. Form SH is an expensive and time consuming to comply with: The SEC estimates that the filing process can take up to 20 hours per week to complete, at a cost of $1000 per filing. HedgeOp’s Form SH Platform automates this time-intensive process, reducing the time spent on each filing by approximately 75%.

Form SH is only the beginning of a new era of regulation for alternative asset managers. Executives at HedgeOp are available to discuss this current round of regulation, as well as what they see developing over the next 12 to 18 months.

D.C.

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