HedgeOp Compliance, LLC, one of the industry’s leading compliance consulting firms, announced the launch of its ADVassist hedge fund adviser registration service today. ADVassist is designed to provide focused and efficient registration and compliance infrastructure development for hedge fund managers registering as investment advisers with the SEC. The service is a concentrated exercise with the purpose of (1) completing the registration process; and (2) creating a solid foundation for development of a compliance infrastructure.
One of the focal points of the Obama Administration’s Financial System Regulatory Reform Plan is to seek the passage of legislation that would require hedge fund managers (as well as other private fund managers) to become registered as investment advisors with the SEC and be in compliance with the applicable requirements under the Investment Advisers Act. There are presently three bills pending in Congress and a recent proposal from the Treasury that would achieve that goal if passed. The expertise of HedgeOp Compliance’s team of professionals coupled with the use of HedgeOp’s proprietary and patented web-based compliance software application make ADVassist an efficient and cost-effective method of fulfilling these expected requirements.
Bill Mulligan, the ceo of HedgeOp stated that “We at HedgeOp are seeing a lot of activity as hedge fund managers look to get ahead of the curve on these requirements and starting the process sooner rather than later. In addition to allowing for key thoughtful planning, addressing the registration issue early will provide a great deal of comfort to investors and prospective investors.”
ADVassist consists of the following services:
Registration and Compliance Infrastructure Development Assistance
• Establishing required IARD accounts
• Preparation of Form ADV Part 1 and draft Part II
• Training and instructions regarding use of IARD system and filing of Form ADV Part 1 (for future use related to updating requirements)
• Development of customized Compliance Manual and Code of Ethics
• Advisers Act compliance training session for employees; and
• Development of customized compliance calendar (outlining month-to-month plan for addressing regulatory requirements)
• Discounted pricing on HedgeOp’s ComplianceTrak software