Our compliance attorneys in the U.S. and U.K. provide regulatory advice to a wide range of registered and unregistered investment managers, with an emphasis on managers of hedge funds and private equity funds. For our clients with U.S. operations, we provide advice on all aspects of the 1940 Act and related federal securities laws, including applicable provisions of the Securities Act, the Exchange Act and the Investment Company Act. Our advice covers issues such as registration requirements, soft dollar arrangements, principal and agency cross transactions, trade allocations, valuations, and record keeping. We also have extensive experience in drafting compliance policies and procedures, and we conduct compliance reviews to help our clients identify areas that may need improvement. In addition, we also counsel our clients as they undergo compliance inspections by the SEC staff and, when necessary, obtain the services of our experienced litigation practice to ensure the best possible outcome. Finally, our practice is supplemented by other areas of expertise within the firm, including attorneys who excel in fund formation, ERISA, CFTC regulation and tax.
For our clients with U.K. operations, we provide advice on all aspects of the Financial Services and Markets Act 2000; the rules of the Financial Services Authority, including those relating to financial promotions, soft commissions and best execution; U.K. anti-money laundering rules; and trading issues, including in relation to the U.K.'s requirements as to the disclosure of equity interests, insider dealing and market abuse. We also advise clients on the process of applying to the FSA for permission to conduct regulated activities in the U.K. Our practice is closely integrated with other practice areas within the firm, including those dealing with investment fund structuring and formation and taxation.