n Without Prejudice - The changing role of the investment funds lawyer : money




Ten years ago, I completed the setup of a hedge fund for the first time. It was a regulated fund based in the British Virgin Islands (BVI) and after submitting a copy of the Memorandum and Articles and a standard application form to the BVI regulator, our client was in business as a fund promoter. My nostalgia for the days of "light touch" regulation is matched only by my more experienced colleagues' wistful reminiscing of the days when a fund could be set up without any regulatory approval at all.


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