Hedge Fund Report - Summary of Key Developments - Fall 2011
By The Investment Management, Securities Litigation & Tax Practices
Since the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) was passed, the Securities and Exchange Commission (the SEC) and various other regulatory agencies, including the Commodity Futures Trading Commission (the CFTC), the Federal Reserve Board (the Federal Reserve), and the Department of the Treasury (the Treasury), have been busy proposing and finalizing rules to implement provisions of the Dodd-Frank Act. There have also been a number of significant developments in the hedge fund tax area, and the SEC and private plaintiffs have continued at a fast pace in bringing enforcement actions and litigation involving private funds and fund managers. Additionally, Bruce Karpati, co-chief of the SEC Division of Enforcements Asset Management Unit, announced the Asset Management Units priority areas of focus for 2012 at HedgeWorlds 2011 Fund Services Conference & Expo held on October 26, 2011.
This Report provides an update since our last