Hedge Funds and Prime Brokers, 2nd Edition

The Credit Crisis is reshaping the hedge fund industry. At a time when proposals to regulate hedge funds and impose restrictions on their investment managers are at the top of the political agenda in Europe and the US, prime brokers continue to curtail funding, which impacts hedge fund trading and profitability, while investors are returning, slowly, to these critical AI pooled investment vehicles.

Beyond the legislative and regulatory agendas, the Credit Crisis has shown how critical it is to understand the intricacies of the hedge fund-prime broker relationship, notably in areas such as hypothecation, disclosure of risk factors, key provisions of the prime brokerage agreement and knowing what to do, and how fast to act, when things go wrong.

Hedge Funds and Prime Brokers, Second Edition is the first book to analyse the regulations proposed in the light of the Credit Crisis in Europe, the US and Asia. Edited by an internationally recognised expert in financial services regulation and with contributions from leading experts in investment, law and regulation, Hedge Funds and Prime Brokers, Second Edition is the indispensible guide to all aspects of what has become one of the most important relationships in modern finance.

This new book builds on the coverage of best-selling first edition, with expanded coverage and additional contributors. Leading industry experts focus on new laws and rules and what they mean for the industry. New chapters address

• the coming US hedge fund rules
• Europe’s Draft Directive on Alternative Investment Fund Managers
• legislative developments in Asia
• breach of duty, remedies and insolvency
• what the hedge fund of tomorrow will look like

Fully revised chapters take in the lessons of the Credit Crisis in their analysis of:

• conflicts of interest
• the economics of the relationship
• corporate governance by and for hedge funds
• key tax and accounting issues

In-depth and practitioner-focused, Hedge Funds and Prime Brokers, Second Edition is the complete guide to the complexities of the hedge fund-prime broker relationship.