We know the Hedge Fund industry. Learn how we can help companies like yours.
The Dodd-Frank Act, Basel III and other U.S. and international regulations spurred by the late-2000s financial crisis signaled a major shift in the governing of the financial services industry and changed the way hedge funds must operate. Every hedge fund managed by SEC registered advisors must hire a compliance chief, ensure that certain policies and procedures are in place concerning securities and asset evaluation, strengthen risk management, update policies and prepare for SEC examinations.
Recent news suggested that Palm Beach county is the new mecca for hedge funds. The New York Post reported that “An increasing number of financial firms, especially private equity and hedge funds, are fed up with New York’s sky-high city and state tax rates and are relocating to the business-friendly climate in Florida’s Palm Beach County.” Hedge funds and investment firms taking a big stake in the single family homes coming up on the Florida foreclosure market, prompting questions about whether they might spark another real estate bubble.
Kaufman, Rossin has been auditing investment funds for decades. We work with hedge funds using a variety of complex strategies, commodity pools, venture capital funds, real estate and private equity funds. We audit standalone funds, master-feeder funds and fund-of-funds. We serve funds domiciled in the U.S., as well as British Virgin Islands, the Bahamas and the Cayman Islands. We want to make sure you understand compliance requirements for the U.S. and offshore jurisdictions and how to meet them. One of our firm's practice leaders in this area serves on the AICPA's Investment Companies Expert Panel, which provides our clients with improved access to the latest in accounting and regulatory changes affecting the industry.
Proposed IRS regulations, proposed SEC regulations and possible Financial Industry Regulatory Authority (FINRA) oversight of registered advisers have the potential to significantly change the industry again.
Kaufman Rossin Fund Services (KRFS), our fund administrator affiliate, provides us with even more insight into the investment community and prepares us to quickly adapt to industry changes. KRFS was established in 1994 as an independent, full-service provider of specialized administration services to the global financial community. We currently perform audit, tax, consulting, back office and fund administration services to more than 500 hedge funds and their investment managers.
The political debate continues over the taxation of carried interest, capital gains, publicly traded partnerships and other issues affecting private equity and hedge funds. Now, more than ever, you need an expert tax team on your side.
Our dedicated financial services tax group is up-to-date on all the latest tax changes and potential actions. Our professionals specialize in tax issues that affect funds like yours, providing tax consulting and compliance to hundreds of funds with U.S. and foreign reporting requirements.