Client Alert
Hedge Fund Report Summary of Key Developments Fall 2010
October 29, 2010
The Investment Management, Securities Litigation & Tax Practices
In response to nearly unprecedented disturbances and failures in the global capital markets in late 2008 and 2009, the Obama Administration, lawmakers and regulators proposed a variety of significant legal and regulatory reforms that would have the potential to change the nature of financial services regulation in the United States and beyond. These efforts culminated in the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act), the single most important and comprehensive piece of financial system reform legislation since the myriad reforms following the Great Depression. Meanwhile, Congress, the Internal Revenue Service (the IRS), the Securities and Exchange Commission (the SEC) and private litigants have been busy creating new tax rules and sorting through the aftermath of the financial disruption as evidenced by recent enforcement and private actions.
This report provides an update since our last report in March 2010 (available here) and highlights recent developments, particularly the Dodd-Frank Act, as they relate to the hedge fund industry. Paul Hastings attorneys are available to answer your questions on these and any other developments affecting hedge funds and their investors and advisers.
Contributors
