Hedge Funds and Alternative Investments Conference

FAE 2012 Conferences foundation for accounting FAE education Hedge Funds and Alternative Investments Conference Best practices in an evolving investment environment. Thursday, July 19, 2012 Marriott Marquis at Times Square New York City Strategies for Dealing with Challenges Regarding: Keynote Address: Marc Charon The Executive Vice President and Managing Director, COO, Managed Funds Association, will provide the Keynote Address: Market Color: Insight Into the State of the Market Today, and a Look towards Tomorrow. FAE 40YEARS 1972-2012 Your Partner in Educational Excellence SEC examinations and other regulatory concerns Valuation of nonmarketable securities and other financial instruments Compliance programs and operational due diligence Federal, state, and local tax laws Recent accounting standard codification updates and pending guidance Also Available via Live Webcast see inside for details Register Today! Visit www.nysscpa.org/hedgefunds or call 800-537-3635

Hedge Funds and Alternative Investments Conference Best practices in an evolving investment environment. Conference Program 7:45 8:20 a.m. Check-in, Continental Breakfast, Networking 8:20 8:30 a.m. Opening Remarks Conference Chair: R.E. Jeff Jeffreys, Multinational Controller, Chartis International 8:30 9:20 a.m.. Keynote Address: Market Color Marc Charon, Executive Vice President and Managing Director, COO, Managed Funds Association Mr. Charon will share his unique insights into the state of the market today, with a critical look at the future in the industry. 9:20 10:45 a.m. Regulatory Update Stephen J. Mazzotti Jr., CPA, Partner, EisnerAmper LLP David H. Kaufman, JD, Morrison & Foerster LLP Deborah Prutzman, JD, CEO, The Regulatory Fundamentals Group LLC Nicholas Tsafos, CPA, Audit Partner, EisnerAmper LLP This panel will define the regulators, the evolving regulatory and registration environment, reporting requirements, whether regulators are watching our assets, and strategies for passing SEC examinations. 10:45 11:00 a.m. Break 11:00 a.m. 12:15 p.m. Valuation Michael Patanella, CPA, Financial Services and Audit Partner, Grant Thornton LLP John Ferro, CPA/ABV, CVA, National Managing Partner, Grant Thornton LLP Kevin Vannucci, ASA/IA, CPA/ABV, CBA, BVAL, Partner, McGladrey & Pullen, LLP Sean McKee, CPA, Partner, KPMG LLP Receive an overview on valuation challenges for nonmarketable securities and best practices for valuations. The panelists will also discuss the dynamic landscape of financial instruments and the valuation difficulties they present. 12:15 1:20 p.m. Luncheon 1:20 2:35 p.m. Compliance and Operations Beth Manzi, CPA, Chief Operating Officer, PEF Services LLC Dov Braun, CPA, Senior Manager, EisnerAmper LLP Various professionals from within the Hedge Funds industry.

Hear about implementing effective and efficient compliance programs and operational controls. Learn the best practices and industry standards for infrastructure and day-to-day operations. We will review current investor concerns and hot button issues related to compliance programs and operational due diligence. 2:35 2:50 p.m. Break 2:50 4:05 p.m. Tax Update David S. Untracht, CPA, MBA, MS, Senior Principal and Co-Founder, Untracht Early LLC Edward H. Dougherty, CPA, Tax Partner, Financial Services Practice, Deloitte & Touche LLP; Director of Hedge Fund Services, Northeast Region, National Tax Leader for Hedge Funds, Deloitte & Touche LLP Brian J. Rebhun Esq., Partner, PricewaterhouseCoopers LLP Michael J. Serota, CPA, Global Hedge Fund Co-Leader and Global Asset Management Tax Leader, Ernst & Young LLP This panel will discuss updates in the 2012 federal, state, and local tax issues. Learn about the details of states' continued aggressiveness in asserting economic nexus on management companies. At the federal level, other significant issues to consider will be addressed. 4:05 4:55 p.m. Accounting Update Sam Shah, CPA, Director, SEI Michael Barkman, CPA, Partner, Ernst & Young LLP Chad Gazzillo, CPA, Partner, Department of Professional Practice, KPMG LLP Timothy Jinks, CPA, Principal-in-Charge, Rothstein Kass Gain an understanding of the recent accounting standard codification updates and matters to consider upon adoption. The panelists will also discuss pending guidance, potential issues, and factors to consider if adopted. 4:55 5:00 p.m. Closing Remarks Committee Member R. E. Jeff Jeffreys, Multinational Controller, Chartis International Agenda and speakers subject to change. For the latest updates, visit www.nysscpa.org/hedgefunds About the Committee Chair R. E. Jeff Jeffreys is the Multinational Controller at Chartis International. He has over 20 years treasury and finance experience within the international insurance industry, working in London, Bermuda, and the United States. He qualified as a Chartered Accountant in London with Arthur Andersen & Co. before starting his finance career in the insurance industry. About the Conference Chair Dov Braun, CPA, is a Senior Manager at EisnerAmper LLP with more than eight years of diversified experience. He provides accounting and auditing services to hedge funds, commodity funds, fund of funds, broker-dealers, investment managers, and advisors, as well as other financial services entities. He has expertise in public offerings and other filings with the SEC, and compliance with Section 404 of the Sarbanes-Oxley Act. About the Speakers Marc Charon is the Executive Vice President and Managing Director and Chief Operating Officer for the Managed Funds Association (MFA). He oversees all of MFA s daily business operations, and the financial administration and governance procedures for MFA s Board of Directors, Founders Council and Strategic Partners, as well as for the Association s committees and forums. John Ferro, CPA/ABV, CVA, is a National Managing Partner in the New York office of Grant Thornton LLP. With more than 28 years of valuation, investment banking, and litigation consulting experience, he has performed valuations for mergers and acquisitions, potential shareholder disputes, financial reporting, estate and gift tax, tax compliance, bankruptcy, and litigation purposes. Timothy Jinks, CPA, is the Principal-in-Charge of the quality control department of Rothstein Kass. He is responsible for the Firm s compliance with accounting, auditing and professional standards for all offices. In this role he oversees internal consultation on technical matters, quality control reviews of financial statements, client acceptance, peer reviews, PCAOB compliance, internal inspections, and monitoring. David H. Kaufman, JD, is a Partner in the New York office of Morrison & Foerster LLP.He concentrates on derivatives and commodities transactions, mergers and acquisitions, and private equity financings. He also has extensive experience with reorganization and insolvency matters.

Sean McKee, CPA, is a Partner and Audit Sector Leader for the Investment Management Practice at KPMG. He has nearly 17 years of experience in the investment management industry providing professional services to the complete spectrum of investment management clients, including private equity funds, hedge funds, commodity pools, mutual funds, fund of funds, variable insurance products, business development companies, small business investment companies, infrastructure funds, and asset managers in a number of jurisdictions. Deborah Prutzman, JD, has an exceptionally wideranging and deep background in the domestic and international financial services industry, and is experienced in regulatory risk management and corporate governance. She has served as a Partner at Paul, Weiss, Rifkind, Wharton & Garrison LLP and at Arnold & Porter LLP. She has also acted as General Counsel to leading-edge financial services companies, including the Merrill Lynch Global Bank Group and CLS Services, the world's foreign exchange netting system. Brian J. Rebhun Esq., is a Partner of PricewaterhouseCoopers LLP. He leads the National State and Local Tax practice in the Asset Management area, and specializes in the State and Local Taxation of hedge funds, private-equity funds, and real estate funds. Nicholas Tsafos, CPA, is an Audit Partner at EisnerAmper LLP. With more than 20 years of diversified accounting and auditing experience, he works with public companies and public offerings as well as complex private companies. He provides accounting and auditing services to hedge funds, commodity funds, funds of funds, mutual funds, broker-dealers, investment advisors, and other financial services entities. Kevin Vannucci, ASA/IA, CPA/ABV, CBA, BVAL, is a Partner in the Business Valuation and Litigation Services for McGladrey & Pullen LLP. He has prepared more than 950 business valuation reports for clients in many different industries including manufacturing, distribution, technology, construction, consumer products, food and beverage, and professional services. How to Register for the In-Person Conference: Online at www.nysscpa.org/fae By phone at (212) 719-8383 or (800) 537-3635 Fill out the registration form on the back panel and mail it to: Foundation for Accounting Education P.O. Box 10490 Uniondale, NY 11555-0490 Or Fax the registration form to (866) 495-1354 How to Register for the Live Webcast: Online at www.nysscpa.org/e-cpe By phone at (877) 880-1335 REGISTER FOR THIS CONFERENCE Registration Information: All registrations must be received 14 days prior to the event in order to guarantee a seat and course materials. Allow approximately 14 days for your return confirmation. Registrants who do not receive their e-mailed confirmation before the conference must call FAE Registration to confirm registration status. Individuals who have not registered before the 14-day cutoff must call to determine space availability. Advance paid registrants will be seated first. For space availability and registration information, call FAE Registration during business hours. Program Details: Check-in begins at 7:45 a.m., Thursday, July 19, 2012. Program begins at 8:20 a.m. and ends at 5:00 p.m. POP 2012 Pass:Take advantage of the savings! If you are a POP 2012 Pass holder, simply return the completed registration form with a POP 2012 Pass number, call FAE Registration at 800-537-3635, or register online at www.nysscpa.org. Each registrant requires a POP 2012 Pass number. Registrations must be received by FAE 14 days prior to any CPE conference or seminar. POP 2012 participants will not be admitted as walk-ins. Some restrictions apply. For more information on the POP 2012 (Pay-One-Price) Program, call FAE Registration at 800-537-3635 or visit our website at www.nysscpa.org. Payment Information: Payment may be made by check or may be charged to American Express, MasterCard, Visa, or Discover. Credit card information must accompany all fax, phone, and online registrations. Special Requirements: Participants with special requirements should notify FAE staff at least 14 days in advance of the program. Refunds: No refunds will be given for cancellations received less than 14 days prior to the program date. A $50 processing fee will be deducted from refunds for cancellations received more than 14 days prior to the program date. Transfers: FAE allows a registrant to transfer to another program or substitute another person without a penalty more than 14 days prior to the program date. Transfers and substitutions requested less than 14 days prior will be charged a $25 processing fee. All transfers from an In-Person conference to its Live Webcast must be completed at least 1 business day before the scheduled conference date. Walk-ins: All individuals who register on the day of the program will be charged an additional $25 fee. As walk-ins, if the event is a FAE Paperless Event, please be advised that you will be e-mailed a link to the materials within five days after the program. Upon receipt of the link, please ensure that you download and save the course materials immediately. The link will not be made available after your initial download/viewing. This link will expire 14 days after it is sent to you. Materials will NOT be provided on-site. Late Registrants: All persons registering for a FAE Paperless Event after 2:00 p.m. the day before the event are considered late registrants. In order to provide the best service possible, a link to the program materials will be provided to you within five days after the program. Upon receipt of the link, please ensure that you download and save the course materials immediately. The link will not be made available after your initial download/viewing. This link will expire 14 days after it is sent to you. Materials will NOT be provided on-site. Mandatory Continuing Education Requirement: This program complies with the standards set forth by the New York State Education Department for mandatory continuing education for CPAs. FAE s New York State CPE sponsor number is 000372; New Jersey 20CE00022200; Pennsylvania PX177239. 2012 Foundation for Accounting Education This is a paperless event. When you see this icon on any conference, seminar, or other event details page, it means course materials will be available in electronic PDF format only. Within five days of the event, you will be e-mailed a link to your online events hosting account. From there, you may download the program materials for the upcoming event, then choose to save the file(s) to your computer or print them out.

Letter from the Chairs Greetings, We are proud to once again invite you to the Foundation for Accounting Education s annual Hedge Funds and Alternative Investments Conference. Our conference has become one of the premier sources of vital information for accountants and financial professionals working in the investments industry. This year s event will be no different. Over the last few years, the hedge funds industry has been cast under a critical light, both in the media and in government, and now faces additional legislative scrutiny. This year s conference will bring together some of the industry s top experts in all areas pertaining to investment accounting. It is your opportunity to learn about the crucial updates you and your clients will need to know about for 2012 and beyond. Our Keynote Address will be delivered by Marc Charon, EVP and COO of Managed Funds Association. Mr. Charon will share his unique perspective and commentary on today s market. The rest of the conference program will consist of panel discussions presenting the best practices for dealing with new regulations, valuation questions, compliance programs and much more. We hope to see you at the Marriott Marquis in Times Square on July 19 for this year s conference. You won t want to miss it. Thank you for your time, R. E. Jeff Jeffreys, Investment Management Committee Chair Dov Braun, Hedge Funds and Alternative Investments Conference Chair Who Should Attend? CPAs at all levels interested in learning about hedge funds and other alternative investments. Why You Should Attend: To provide insight and background information about hedge funds and alternative investments. Program Details: Time: 8:20 a.m. 5:00 p.m. (Check-in begins at 7:45 a.m.) Sponsoring Committee: Investment Management Committee, NYSSCPA Sponsoring Committee Chair: R. E. Jeff Jeffreys, Multinational Controller, Chartis International Conference Chair: Dov Braun, CPA, Senior Manager, EisnerAmper LLP Conference Planning Committee: R. E. Jeff Jeffreys, Multinational Controller, Chartis International; Beth Manzi, CPA, PEF Services, LLC; Michael Patanella, CPA, Partner, Grant Thornton LLP; Stephen J. Mazzotti Jr., CPA, Partner, EisnerAmper LLP; Sam Shah, CPA, Director, SEI; Heather K. Traficanti, CFA, CPA, CFE, Manager, Crowe Horwath LLP Field of Study: Specialized Knowledge and Applications Recommended CPE Credit Hours: 8 Course Code: 25530311 (In-Person); 35530311 (Live Webcast) Member Fee: $385 (In-Person); $285 (Live Webcast) Nonmember Fee: $510 (In-Person); $410 (Live Webcast) There will be a $100 surcharge for POP 2012 users for this conference.

foundation for accounting FAE education 3 park avenue, at 34th street, new york, ny 10016-5991 www.nysscpa.org 1-800-NYSSCPA Hedge Funds and Alternative Investments Conference Best practices in an evolving investment environment. Thursday, July 19, 2012 8:20 a.m. 5:00 p.m. (Check-in begins at 7:45 a.m.) New York Marriott Marquis at Times Square 1535 Broadway, at 45th Street New York, NY 10036 Course Code: 25530311 (In-Person); 35530311 (Live Webcast) Mail this registration form along with payment information to: Foundation for Accounting Education P.O. Box 10490 Uniondale, NY 11555-0490 Or fax the registration form to (866) 495-1354 To register for the Live Webcast, visit www.nysscpa.org/e-cpe. 12-0412 Use this form for In-Person Conference Only. Today s Date NYSSCPA Member Yes No Member ID No. Name (Print) Title (Print) Firm Firm Address City State Zip Telephone Fax Email E-mail address required in order to receive course material Check One: Member Fee: $385 Nonmember Fee: $510 Method of Payment Check Payable to FAE American Express Mastercard Visa Discover Credit Card No. Exp. Date Cardholder s Name Cardholder s Signature POP 2012 Pass Check One: Individual POP 2012 Pass Firm POP 2012 Pass POP 2012 Pass No. There will be a $100 surcharge for POP 2012 users for this conference.