HedgeOp Compliance, LLC Launches Comprehensive Web-Based Compliance Platform for Hedge Funds

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HedgeOp Compliance, LLC today announced the launch of its innovative Web-Based Compliance Platform developed specifically for hedge funds and funds of hedge funds. Designed to allow hedge fund managers to handle the burden of new regulatory requirements, the HedgeOp Platform consists of the most unique and comprehensive set of tools yet to enter the hedge fund marketplace.

HedgeOp Compliance, LLC (“HedgeOp”) today announced the launch of the first version of its innovative Web-Based Compliance Platform developed specifically for hedge funds and funds of hedge funds. Designed to allow hedge fund managers to handle the burden of new regulatory requirements, the HedgeOp Platform consists of the most unique and comprehensive set of tools yet to enter the hedge fund marketplace.

Thanks to the functionality available in the HedgeOp Web-Based Platform, hedge fund managers are now able to build and maintain their own compliance infrastructure. By utilizing the three main compliance tools, managers can identify and address the major compliance and regulatory issues that are relevant to their firm. HedgeOp already has in development a number of additions and expansions to its Platform which will be released over the next few months.

Available for a monthly subscription fee, the entire HedgeOp Web-Based Platform consists of:

• A Comprehensive Guide to Hedge Fund Compliance and Operational Issues: The Guide covers both fund-level and manager-level issues including NFA/CFTC compliance issues, 3c1 / 3c7 eligibility, ERISA participation, audit preparation and much more. The Guide is an invaluable resource for chief compliance officers (and other hedge fund professionals) to understand, in a practical way, the host of regulations applicable to their funds.

• Fully Customizable Compliance Manual: These robust, customizable procedures were written specifically for hedge funds and funds of hedge funds and fully satisfy the requirements of the new Advisors Act Rules 206(4)-7 and 204A-1. Thanks to an expansive customizing questionnaire, each Subscriber’s compliance manual is unique to its business.

• HedgeOp Reporting / Compliance Reminders Software Platform: This proprietary web-based software helps identify and track relevant compliance issues and allows hedge fund managers to generate monthly and quarterly reports which demonstrate adherence to their compliance procedures. The logic built into the software calculates crucial compliance figures allowing managers to easily monitor their fund’s statistics. The integrated AML functionality allows users to seamlessly run their investor base through a series of eighteen watch-lists. In addition, the Platform allows subscribers to set reminders for major compliance obligations.

The three compliance tools are available separately but they were designed to be used as a package. A subscription to the Platform also includes quarterly compliance newsletters and all product updates (which are expected to occur bi-annually or as needed to address regulatory changes).

Bill Mulligan, HedgeOp’s CEO believes that the user friendly, “all-inclusive” nature of the Platform adds great value to the end user. “Compliance issues concerning hedge funds have always been a complex area due to the fact that so many different securities laws, and regulations come into play,” said Mulligan. “Never before have all of the different laws and regulations applicable to hedge funds been condensed into an easy-to-read, customizable format which hedge fund managers can utilize as a resource.”

With the new rule recently released by the SEC requiring the mandatory registration of hedge fund managers, Mulligan believes that it is imperative for hedge fund managers to be familiar with the complex web of applicable regulations. “For the first time, Hedge Fund Managers can understand the laws relevant to their firm and apply them in a guided, proactive manner using our Platform,” he said.    

About HedgeOp Compliance, LLC:

Founded in 2001 by Bill Mulligan, HedgeOp Compliance’s staff of 21 professionals provides hedge funds and funds of hedge funds with a wide array of proactive, “outsourced” compliance, operational and business support services. Prior to founding HedgeOp, Bill Mulligan was a hedge fund attorney at Seward & Kissel, LLP. HedgeOp Compliance, LLC presently has three divisions – Private Fund Services (i.e., proactive consulting), Due Diligence Research & Reporting Services (i.e., non-investment due diligence support for fund of funds) and Web-Based Platform Services. As of today, HedgeOp Compliance has (in our Private Fund Services and Due Diligence Research & Reporting Divisions), approximately 25 consulting clients with roughly $9 billion in assets under management. HedgeOp Compliance can be visited on the web at: http://www.hedgeop.com and http://www.hedgeoppfs.com.

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