Hedge Fund Deskbook


This book is a convenient reference source both for hedge fund managers in the process of organizing new funds and for those who have occasional questions arising from the operation of their existing funds.

It covers a broad range of topics, including formation, litigation and enforcement defense, regulation, marketing, compliance, and other issues of interest to the hedge fund industry. Because hedge funds and hedge fund managers are not uniform in structure and strategy, this deskbook is a valuable general reference.


§ 1:1 Hedge fund formation overview by Ethan Johnson

§ 1:2 Overview of hedge fund tax structures by Richard Zarin

§ 1:3 Special investment strategies: taking advantage of opportunities that arise from changes in market conditions by Jedd Wider

§ 1:4 Hedge fund trademark and patent primer: a guide to selection, use and protection by James Sims and MaryJane Boswell

§ 1:5 What to do if your fund becomes subject to ERISA by Craig Bitman and Michael Richman

§ 1:6 Negotiating ISDA Master Agreements and related clearing arrangements by Tom D’Ambrosio

§ 1:7 Assessing counterparty risk by Mark Fitterman

§1:8 The “Fund of One”: The Current Market by Jedd Wider


§ 2:1 Fund marketing overview by Ethan Johnson

§ 2:2 U.S. private placement guidelines for hedge fund managers by Ethan Johnson

§ 2:3 Hedge fund advertising: the regulatory landscape for broker-dealer placement agents by Tim Levin and Jack O’Brien

Appendix: Definition of U.S. Person byEthan Johnson

§ 2:4 What hedge fund managers need to know about Regulation S by David Sirignano

§ 2:5 The regulation of hedge funds in Germany by Torsten Schwarze

§ 2:6 Marketing of foreign hedge funds in Hong Kong by Scott Carnachan and Mary Nieto/Deacons

§ 2:7 Marketing of foreign hedge funds in Japan by Chris Wells and Koji Yamamoto

§ 2:8 Marketing of foreign hedge funds in the Middle East by Ayman H.A. Khaleq

§ 2:9 Marketing of foreign hedge funds in Singapore by Daniel Yong and Caitlin Yap

§2:10 Regulation and promotion of hedge funds in the UK by William Yonge

§2:11 Offering offshore funds to U.S. investors: a primer by Ethan Johnson and Richard Zarin

Appendix: QEF Requirements by Ethan Johnson


§ 3:1 Hedge fund regulatory update by Sean Graber and Jack O’Brien

§ 3:2 What every hedge fund manager needs to know about SEC registration by Jennifer Klass

§ 3:3 What hedge fund managers need to know about broker-dealer registration requirements in the United States by Ethan Johnson and Mark Fitterman

Appendix: Rule 15a-6 Requirements by Amy Kroll

§ 3:4 What hedge fund managers need to know about futures and swaps regulation by Daniel Budofsky and Michael Philipp

Appendix: Qualified Eligible Person Status by Daniel Budofsky and Michael Philipp

§ 3:5 Restrictions on purchases of new issues by David Sirignano

§ 3:6 Finders and solicitors by Ethan Johnson

§ 3:7 The Volcker Rule: what hedge fund sponsors, managers and investors need to know by Charles Horn

§ 3:8 AIFM—European Union regulates hedge fund advisors by Torsten Schwarze and William Yonge

§ 3:9 MIFID and its impact on non-EEA hedge fund managers by Torsten Schwarze and William Yonge

§ 3:10 Germany publishes rules on high frequency trading by Torsten Schwarze


§ 4:1 Personal trading policies for hedge fund managers by Monica Parry

§ 4:2 Adviser recordkeeping requirements by Ethan Johnson and Kenneth Earley

§ 4:3 Hedge funds as activist investors: regulatory filings and other implications by Harry Robins and David Sirignano

§ 4:4 The role of hedge funds in the fight against money laundering, terrorist financing and corruption by Charles Horn and Alison Tanchyk


§ 5:1 Funds in trouble: a primer on managing legal risks and liquidations by Ethan Johnson


§ 6:1 2013 Summary of SEC enforcement actions involving private fund advisers by Ivan Harris


§ 7:1 Employment issues for hedge fund managers by David McManus and Melissa Hill