Hedge Funds and the Law

This 2nd edition will provide a comprehensive guide to setting up and operating hedge funds. It will cover all the key legal, regulatory, and tax matters that need to be considered and covered when setting up a fund. The new edition is fully updated to cover the AIFMD and the Dodd Frank Act in the US.

This title covers:

• All the key legal, regulatory and tax matters that need to be considered and covered when setting up and operating different types of fund
• All the implications of the Alternative Fund Managers’ Directive (AIFMD), which regulates EU hedge fund managers for the first time, and other EU initiatives
• The regulatory initiatives of the US including the impact of the Dodd Frank Act on transparency and accountability in the hedge fund industry
• The rules relating to hedge fund reporting requirements
• The requirement for hedge funds to appoint a depository under the AIFMD
• Coverage of the legal and regulatory regimes relating to hedge funds in key jurisdictions
• The regulator’s enforcement regime as it applies to hedge fund managers
• The rules and regulations governing the marketing of hedge funds in key jurisdictions

Introduction
Key issues in establishing and structuring hedge funds
UCITS: absolute return funds
Closed ended hedge funds
Marketing
Reporting
Leverage
Valuation
Delegation
Remuneration
The depositary function
Enforcement
Tax efficiency and its role in the hedge fund industry
Liquidity and fund closures
US regulatory regime for hedge funds and managers
Impact of US regulation on EU hedge fund managers
Impact of EU regulation on US hedge fund managers
Brief summaries of the legal regime for fund structuring, fund management and fund marketing in other leading jurisdictions

Richard Frase (lead author and editor)

Contributors from Dechert, including:

Stuart Martin

Mark Browne

Conor Durkin

Richard Hefner

Chris Gardner

Gus Black

Mark Stapleton

Michelle Peters

Marc Seimetz (Luxembourg)

Declan O’Sullivan (Ireland)

Olivier Dumas (France)

Angelo Lercara (Germany)

Juan Carlos Machuca (Spain)

Francesco Crocenzi (Italy)

Angelyn Lim (PRC and Hong Kong)