Hedge Fund Managers: Time for your Annual Registration Check-up? Quick Tips for Doing a Self-Diagnosis
Mondaq Business Briefing › Canada Law Articles in English (2011)
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Hedge Fund Managers: Time for your Annual Registration Check-up? Quick Tips for Doing a Self-Diagnosis
Securities laws, anti-money laundering and terrorist financing reporting regulations have, over the past few years, gone through a significant overhaul in Canada. At the same time, regulatory oversight and compliance audits have increased.
The hedge fund industry is becoming increasingly regulated and all hedge fund managers need to stay on top of things. Now might be a good time to perform a self-diagnosis of your compliance regime. The following is not intended to be a complete review of all compliance matters applicable to managers of privately offered pooled funds, but is a reminder of some basic compliance issues and some simple fixes. Time-sensitive requirements should be diarized. The Annual Check-up: National Instrument 31-103 Registration Requirements and Exemptions (NI 31-103) requires the firm's Chief Compliance Officer (CCO) to submit an annual report to the firm's board of directors for the purpose of assessing compliance by the firm, and individuals acting on its behalf...See the full content of this document
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