HedgeFundLawReport

The Hedge Fund Law Report is the definitive source of actionable intelligence on hedge fund law and regulation.

[HedgeFundLawReport @HFLawReport]

In Mar. 2026, OFAC issued a sanctions advisory calling attention to the growing dangers of sham transactions, the severe risks to national security & foreign policy they pose & red flags to be aware of when vetting prospective investors or counterparties. https://t.co/BlkviFo262

[HedgeFundLawReport @HFLawReport]

The SEC & CFTC proposed amendments to Form PF in April to eliminate, streamline and reduce filing requirements for many advisers. This first article in a two-part series sums up the changes outlined in the proposal & offers analysis from legal experts. https://t.co/bgV2nkEp5A

[HedgeFundLawReport @HFLawReport]

The SEC accused an unregistered fund adviser & its principal of defrauding private fund investors by taking management fees equal to nearly 1/4 of the contributed capital, failing to deliver financial statements & making material misrepresentations. https://t.co/bU5kPlOnKG

[HedgeFundLawReport @HFLawReport]

This article synthesizes insights shared during a BARBRI program on risks from use of third-party AI tools, considerations for approaching contracting with vendors & practical advice on 6 key AI vendor contract clauses. https://t.co/tHzmpmHw0o

[HedgeFundLawReport @HFLawReport]

Claims the SEC has stood down during a deregulatory zeitgeist or shirked its core missions are wide of the mark, claimed the speakers in the Division of Investment Management panel of the SEC Speaks 2026 conference. This article presents key takeaways. https://t.co/2OakGL53YP

[HedgeFundLawReport @HFLawReport]

On April 9, the U.K.’s FCA published an alert on concerns with asset managers’ applications for authority, as well as the good practices & areas for improvement it observed, from the applications it reviewed. This article discusses the FCA's findings. https://t.co/Sd46wpZgcI

[HedgeFundLawReport @HFLawReport]

The SEC announced its FY2025 enforcement results, released its FY2027 budget request & appointed David Woodcock as the new Enforcement Director. This article analyzes the FY2025 enforcement results, the SEC’s FY2027 budget request & Woodcock’s appointment. https://t.co/mckMDaXtxr

[HedgeFundLawReport @HFLawReport]

The SEC filed an action against Steven Teixeira & Jordan Meadow for trading based on MNPI Teixeira got from his girlfriend's computer. The SEC has now filed an action against Ronald Smith with whom Meadow shared MNPI. This article details the allegations. https://t.co/Q7GtzwWfXt

[HedgeFundLawReport @HFLawReport]

This article discusses research on private fund managers’ adoption of tokenization, including asset classes most commonly being tokenized, which buy-side participants are embracing tokenization & the future of blockchain in the private funds space. https://t.co/HvNJLWhjzj

[HedgeFundLawReport @HFLawReport]

@SewKisIM issued the latest edition of its annual hedge fund side letter study, which examines the characteristics of the managers & investors that entered into the side letters, plus the most common terms. This article examines the key findings. https://t.co/cUCNFUkr2u

[HedgeFundLawReport @HFLawReport]

A panel at the SEC Private Markets Roundtable in March focused on investment vehicles providing access to private market strategies; valuation processes & concerns; semi-liquid funds; & fee structures. This article presents the key takeaways. https://t.co/xNLj5yrYTY

[HedgeFundLawReport @HFLawReport]

The NY Supreme Court rejected a challenge to an arbitration panel’s findings that BDO & affiliates had harmed investors by issuing clean audits of the fraudulent financial statements of several hedge funds. This article summarizes and analyzes the ruling. https://t.co/Tu4VfGsPkO

[HedgeFundLawReport @HFLawReport]

Then CFTC Commissioner Kristin Johnson discussed the core benefits & burdens of the use of AI in financial services, as well as the May 2025 GAO report on the use & oversight of AI in financial services. This article discusses the key takeaways. https://t.co/ghCOFs6Mu1

[HedgeFundLawReport @HFLawReport]

To explore how new policy directions are reshaping the efforts of the SEC’s Enforcement Division & the implications for those navigating the evolving regulatory environment, Gibson Dunn hosted a webinar. This article offers key takeaways for fund managers. https://t.co/BbBY9g2SK6

[HedgeFundLawReport @HFLawReport]

Reg S‑P requires RIAs to safeguard customer information. In June 2024, the SEC amended Reg S‑P, which becomes effective for smaller managers on June 3, 2026. This article presents key takeaways from a Seward & Kissel program on preparing for compliance. https://t.co/x6lRIp6xIC

[HedgeFundLawReport @HFLawReport]

At the SEC’s Private Markets Roundtable, Brian Daly, director of the SEC Division of Investment Management, led a panel on differences in how public & private assets are valued, implications of those differences & private market liquidity issues. https://t.co/6JmSDEtBSx

[HedgeFundLawReport @HFLawReport]

On March 11, 2026, the SEC and the CFTC entered into a MOU. This article summarizes the MOU, examines those parts likely to have a direct impact on fund managers, considers its timeline for full implementation & offers practical takeaways. https://t.co/WD9BEwylDh

[HedgeFundLawReport @HFLawReport]

A panel during SCCE’s 24th Annual Compliance & Ethics Institute shared advice on constraining and tracking off-channel communications. This article distills their insights. #HFLR #internalinvestigations #ecomms https://t.co/KV2X8NTFrM

[HedgeFundLawReport @HFLawReport]

Herbert Smith Freehills Kramer program examined current regulatory approaches to greenwashing & greenhushing in the U.S., U.K. & E.U.; how firms can craft compliant ESG & sustainability disclosures; & how regulators are using AI in supervising these areas. https://t.co/clfRTNV9GX

[HedgeFundLawReport @HFLawReport]

This article covers 2 FINRA settlements with broker-dealer CCOs. One case arose out of a broker-dealer’s violation of Reg BI. The other involved the filing of a false undertaking & failing to preserve certain ecomms. https://t.co/ZBdTOtbnW5