Erisa Rules For Hedge Funds In Pima
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FAQ
“Hedge funds are restricted under Regulation D under the Securities Act of 1933 to raising capital only in non-public offerings and only from “accredited investors,” or individuals with a minimum net worth of $1,000,000 or a minimum income of $200,000 in each of the last two years and a reasonable expectation of ...
For example, Federal, state, or local government plans and some church plans are not covered.
Generally, each person must be bonded in an amount equal to at least 10% of the amount of funds he or she handled in the preceding year.
In general, ERISA does not cover group health plans established or maintained by governmental entities, churches for their employees, or plans which are maintained solely to comply with applicable workers compensation, unemployment, or disability laws.
404(a)(1)(B) provides that “A fiduciary shall discharge his duties with care, skill, prudence and diligence under the circumstances then prevailing that a prudent man acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims.” The other ...
