Presented by NICSA’s East Coast Regional and Alternative Investments Committees

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Conference Agenda

8:00 – 9:00 a.m.
Registration & Continental Breakfast
Sponsored by

9:00 – 10:15 a.m.
The New Regulatory Environment for Hedge Funds

George J. Mazin, Partner
Dechert LLP

Steven Nadel, Partner
Seward & Kissel LLP

David E. Scott, Director of Compliance
Strategic Value Partners, LLC

In light of the SEC’s recent issuance of rules requiring the registration of many hedge fund advisers, this session will focus on the very latest in hedge fund regulation and compliance matters, including:

• The impact of Advisers Act registration on hedge fund managers
• Conflicts of interest in hedge fund operations, and how to address them
• Appropriate compliance procedures and chief compliance officer qualifications under Advisers Act rule 206(4)-7
• Advertising and the placement of fund interests, including issues relating to the use of related performance
• Capital introduction and other services provided by prime brokers
• Valuation, liquidity and other potential regulatory issues raised by derivatives transactions
• Impact of CFTC regulation on fund managers and advisers, key CFTC exemptions, CFTC/NFA hot button issues
• New SEC regulatory initiatives on Soft Dollar practices
• Code of ethics

10:15 – 10:30 a.m.
Break

10:30 – 11:45 a.m.
Current Issues in Hedge Fund Operations

Chris Farias, Senior Director and Hedge Funds Product Manager
Investors Bank & Trust Company

Penn Miller-Jones, Managing Director
Bank of America Prime Brokerage

Michael Tannenbaum, Esq., Partner
Tannenbaum Helpern Syracuse & Hirschtritt LLP

Drawing on the experience of a talented group of professionals in the hedge fund industry, this panel will discuss today’s hot-button issues that challenge sponsors of hedge funds, such as multiple prime brokerage arrangements, implementation of new custody requirements for hedge funds and valuation of illiquid securities.

11:45 a.m. – 1:00 p.m.
Luncheon and Keynote Speaker
Hedge Fund Perspectives - Does the Reality Match the Hype?
Sponsored by

Kent A. Clark, CFA, Managing Director
Goldman Sachs Asset Management

Luncheon keynote speaker, Kent A. Clark, CFA, the Chief Investment Officer of Goldman Sachs' Hedge Fund Strategies group, will share with NICSA his outlook on the complex and evolving landscape of hedge funds.

1:00 – 2:00 p.m.
Latest Domiciles and Structures Used by Hedge Fund Advisors

Laurel Fitzpatrick, Partner
Ropes & Gray LLP

Rob teDuits, Director of International/Offshore Business Development
State Street

Oscar M. Q. Teunissen, Partner, International Tax Services
PricewaterhouseCoopers LLP

Panelists will discuss which domiciles and structures are currently being used by hedge fund advisors as well as the pros and cons related to such domiciles and structures.

2:00 – 2:15 p.m.
Break

2:15 – 3:30 p.m.
Hedge Fund Distribution: Brave New World
P resented by NICSA’s Alternative Investments Committee

Justin Dew, Senior Hedge Fund Specialist
Standard & Poor’s

William Grayson, President
EGM Capital

George J. Mazin, Partner
Dechert LLP

William Ullman, Senior Managing Director
Bear Stearns & Co.

Experts from the hedge fund space will discuss critical issues in hedge fund distribution, ranging from marketing strategies to hedge fund securitization issues; and from the role of third parties in distribution to opportunities for ERISA distribution of product.

3:30 – 3:45 p.m.
Break

3:45 – 4:30 p.m.
Closing Keynote
Myths and Truths of the Hedge Fund Industry

Daniel A. Strachman, Managing Partner
Answers & Company LLC

Join noted industry consultant and "strategic advisor to the pros" Dan Strachman as he discusses what's really going on in the hedge fund space. Dan will discuss how and where people are making money in the industry, and what trends you need to know as you consider the myriad of distribution and client management issues facing you, your colleagues, your vendors, and your competitors.

Dan has covered the hedge fund industry as a freelance journalist for more than six years and is the author of three highly acclaimed investment books, Getting Started in Hedge Funds, Essential Stock Picking Strategies, and Julian Robertson: A Tiger in the Land of Bulls and Bears. Mr. Strachman's articles have appeared in The Financial Times, The Boston Globe, The New York Post, American Banker, and Interview Magazine.

4:30 p.m.
Closing Remarks

Barbara V. Weidlich, President
NICSA

NICSA thanks our conference sponsors and media partners

CPE Information

NICSA is pleased to offer this group-live learning activity to attendees who are seeking CPE credits. Up to 6.5 CPE units are available for attendees of this conference. The conference sessions require no advanced preparation, no pre-requisite study and are appropriate for all who have a basic understanding of the investment management industry.

NICSA is registered with the National Association of State Boards of Accountancy (NASBA), as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses of CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasba.org