What Compliance Records Must a CPO Maintain?
CPOs are required to keep books and records in an “accurate, current and orderly manner,” and NFA’s expectations stretch that mandate across nearly every function of the fund.
Quarterly Estimated Partnership Taxes: How and When to Pay
GPs, LPs, founders, and foreign investors all sit in different tax worlds. Walk through each group separately so the right partners get the right estimates and Section 1446 withholding doesn’t sneak up on the fund.
May the Force Be With You: Five Regulatory Updates…
The first three weeks of the month produced more substantive guidance for alternative fund managers than most full quarters do, and almost none of it was the kind you can file away for later.
Need a Surprise Custody RIA Exam Partner? Why Boutique…
Nobody wakes up excited about a surprise custody RIA exam. You know it is coming sometime this year. You just do not get to know when, and that is sort of the point.
How to Prepare for an NFA Exam: A Fund…
The fastest path to readiness isn’t a custom prep doc built from scratch. It’s the work NFA already asks every member to do each year.
CPO vs. CTA: What Are the Different NFA Compliance…
Each step pulls the firm further into dual-registration territory, and NFA compliance treats the two roles as separate regimes with separate obligations. Registration, disclosures, reporting, recordkeeping, supervision.
What Is an NFA Audit and What Should You…
NFA usually gives about two weeks’ notice by phone, though some exams arrive unannounced. Either way, the firms that handle it well are the ones that didn’t wait for that call to get organized.
April Showers Bring Compliance Powers
April has not handed alternative managers one sweeping mandate. It has handed them five directional clues, which is the more useful outcome if you know how to read them.
Decoding Your K‑1 Form: Line‑by‑Line Guide for First‑Time Investors
The K-1 form exists because partnerships don’t pay their own taxes. You do. The form reports your share of the fund’s income, deductions, credits, and other tax items directly to the IRS.