Abstract
This chapter provides an overview of the compliance operations of alternative investment managers. The concept of mandatory compliance obligations and voluntary compliance obligations will be discussed. As part of this discussion, we outline the sources of mandatory and voluntary compliance obligations. We then outline the distinction between investment and operational compliance obligations. Next chief compliance officer (CCO) models and the duties of CCOs will be discussed. Other topics covered in this chapter include the role of governance in compliance management, compliance documentation including the compliance manual and code of ethics, and common compliance policies.
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Notes
- 1.
US Securities and Exchange Commission, Form 13F—Reports Filed by Institutional Investment Managers.
- 2.
Scharfman, J., “Hedge Fund Governance: Evaluating Oversight, Independence and Conflicts,” Academic Press, 2014.
- 3.
Financial Conduct Authority, “Controlled functions,”.
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Scharfman, J. (2020). Compliance Operations and Governance Considerations. In: Alternative Investment Operations. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-46629-9_4
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DOI: https://doi.org/10.1007/978-3-030-46629-9_4
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Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-030-46628-2
Online ISBN: 978-3-030-46629-9
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