Friedman Kaplan Attorneys Present in Tel Aviv on Hedge Fund Opportunities and Risks
Friedman Kaplan partner Scott M. Berman and counsel Asaf Reindel participated in a one-day conference titled "Hedge Funds: Opportunities & Risks, Perspectives from Israel, the United States and the Cayman Islands," co-sponsored by Friedman Kaplan, Israeli law firm Shenhav & Co., and Cayman law firm Solomon Harris. The conference provided a window into similarities and differences among the legal and regulatory frameworks for hedge funds in Israel, the United States, and the Cayman Islands.
Mr. Berman's presentation was titled "Investing in U.S. Managed Hedge Funds: Business and Legal Considerations," and covered initial and continuing investors' due diligence on hedge-fund managers and service providers (e.g., auditors, administrators, and prime brokers); risk management for managers and service providers; investors' legal rights and remedies for fraud or other misconduct; and avoiding "clawback" claims by hedge-fund liquidators against investors . Mr. Reindel's presentation, titled "U.S. Legal and Compliance Risks of Hedge Fund Research," included a discussion of the legal and compliance risks involved in the use of research service providers such as expert networks. Attorneys from Shenhav & Co. and Solomon Harris, as well as representatives from Israel's hedge fund industry, also spoke at the conference.