Roel C. Campos, Commissioner, U.S. Securities and Exchange Commission (SEC), addressed a group of international leaders from the hedge fund industry at Managed Funds Association’s (MFA) premier London hedge fund symposium.
The symposium, The SEC’s New Hedge Fund Rules & Implications for Managers in Europe, was designed to examine and provide guidance on the SEC’s new regulatory framework as it will affect European and other off-shore hedge fund managers, including affiliates of U.S. managers.
The event, which was held at the Savoy Hotel, featured an expert faculty of professionals who interpreted the broad ramifications of the new rules for investment advisers before an assemblage of distinguished delegates.
Led by Commissioner Campos, the symposium offered a definitive analysis of the new rule and provided guidance on the preparation process, compliance policies, sound practices, the SEC examination process, issues for dual registrants, “Registration Lite,” possible exemptions, and the impact of the U.S. regulations on offshore funds.
Commissioner Campos said, “Panelists and the audience, with their questions, provided invaluable insights about the hedge fund industry, particularly the impact of the new rule on off-shore managers. Today’s dialog will enable me to participate in ongoing deliberations at the SEC from a much better informed position. I thank MFA for providing this opportunity to educate and inform me and my European counterparts.”
“At the request of MFA’s non-U.S. members, we were pleased to be in London to present MFA’s inaugural European symposium on issues of regulation, compliance and sound practices. MFA’s educational mission is increasingly critical as the global hedge fund industry prepares for mandatory registration with the SEC,” said John G. Gaine, MFA President. “We are delighted with Commissioner Campos’ participation and pleased to see our members fully engaged in the serious discussions surrounding the new SEC rules, as well as the preparatory process for affected parties all over the world.
MFA’s symposium included the following panel topics and faculty: Panel 1: Counting U.S. Clients: Which European Hedge Fund Managers Will be Required to Register with the SEC, led by Paul Roth, Founder, Schulte Roth & Zabel; Karl Wachter, General Counsel, Amaranth Advisors; and Boris Onefater, Partner, Deloitte & Touche LLP.
Panel 2: Ongoing Implications of SEC Registration: European Hedge Fund Operations and Complying with “Registration Lite,” conducted by Charles Pardue, Managing Director, The Prytania Group; Margery Neale, Partner, Shearman & Sterling LLP; Cheryl Moore, Partner, Patton Boggs LLP; Gautam Gujral, Director, Prime Services, Credit Suisse First Boston; and Graham Phillips, European Hedge Fund Practice Leader, PricewaterhouseCoopers LLP.
Panel 3: Hedge Fund Regulatory Developments in Europe and Issues for Dual Registrants, addressed by Iain Cullen, Partner, Simmons & Simmons (UK); Andrew Shrimpton, Sector Manager- Asset Management, Financial Services Authority (UK); Chris Hilditch, Partner, Schulte Roth & Zabel LLP (UK); Jaap Winter, Partner, DeBrauw Blackstone Westbroek (Netherlands); and Hubert Reynier, Managing Director, Regulation Policy and International Affairs Division, Autorit des Marchs Financiers (France).
MFA, headquartered in Washington, DC, is the primary trade association representing professionals who specialize in alternative investment strategies including hedge funds, funds of funds and managed futures funds.