You will discover:

• the changing relationship between prime brokers and hedge funds, the relationship they have with hedge fund service providers (such as administrators, risk managers, directors, investors and regulators)

• how "unregulated hedge funds" are regulated - and why more "regulation" may not be required

• how prime brokers are regulated in their hedge fund activities

• the trading and economic factors that drive the relationship

• how prime brokers shape the development of hedge funds and their trading strategies

• the legal, regulatory and jurisdictional issues that affect the prime broker-hedge fund relationship, emphasising relevant laws, listing and continuing obligation standards and agreements (including, among others, prime brokerage agreements, ISDAs and iTraxx, stock borrowing and lending and other key agreements)

Understand how and why the prime broker-hedge fund relationship is maturing and changing to a more level playing field.

An essential read for fund managers, hedge funds, investors, law firms, in-house legal and compliance departments, regulators, securities professionals, investment bankers, accounting professionals, treasurers, the financial services community, corporate governance professionals and practitioners working in listing rules or markets activity.

1 Hedge Funds: What are They, How are
Unregulated Hedge Funds Regulated and
How do They View the Hedge Fund-Prime
Broker Relationship?
Mark Berman

2 Hedge Funds and Prime Brokers: The Legal
Relationship from the US perspective
Karrie H. McMillan, Larry E. Bergmann
Willkie Farr & Gallagher LLP

3 The Hedge Fund-Prime Broker Relationship
from the Industry Perspective
Richard R. Lindsey
Bear Stearns Securities Corporation

4 "Related Parties" and their Role in the
Relationship
Bruce Gardner
SJ Berwin LLP

5 The Legal Underpinnings of the Relationship:
The "Level Playing Field"
Mark Berman

6 The Trading and Economic Factors Driving
the Relationship
Paul Dentskevich
HSH Nordbank AG

7 Corporate Governance by and for Hedge Funds
Barry P. Barbash
Willkie Farr & Gallagher LLP

8 Key Tax and Accounting Issues
Diya Agarwal, Debbie Anthony,
Patrick Connolly, Robert Mirsky
Deloitte & Touche LLP

Index

About Hedge Funds and Prime Brokers, edited by Mark Berman: "This is a really wonderful book for sophisticated professionals working for hedge funds, brokerages, accounting firms, law firms or regulatory authorities. It will also be invaluable for researchers."
Glyn Holton, Contingency Analysis

Mark Berman the founder and a principal of CompliGlobe Ltd., advises and has advised hedge funds, investment managers, multi-national banks and investment firms on cross-border regulatory, compliance and AML matters. He is the editor of and a contributor to Hedge Funds and Prime Brokers (Oct 2006, Risk Books) and SEC Regulation Outside the United States (6th ed. Dec 2007, Risk Books).

He founded and chairs the annual conference, “SEC Regulation Outside the United States”, and the workshops, “SEC Basics” and “SEC Inspections and CCOs”, given annually in London, Hong Kong and other locations in Europe and Asia. Mark was a senior lawyer with the Division of Corporation Finance and the Division of Market Regulation of the US Securities and Exchange Commission, where he worked on domestic and cross-border disclosure and trading practices issues, respectively.

He was a senior lawyer with the London Stock Exchange where he advised on market supervision, surveillance, commercial and inter-exchange and regulatory matters, drafted the 1994 re-write of the trading rules and negotiated the Exchange-Thomson-ISMA inter vendor link agreement. In nearly 15 years of industry experience and apart from his time as a regulator, he held positions as head of legal and compliance, compliance officer, MLRO and assistant company secretary, and chaired and served on new product committees.

Mark writes articles, conducts training programmes on and speaks regularly at local, regional and global seminars on hedge fund developments and cross-border regulation. He is a Trustee of the SEC Historical Society and a member of the BSF Hall of Fame