Quote from QuenkishZakos:
thanks
quote from hedge world describing how SEC is using CAIA, perhaps the biggest sign the designation is going places quickly.
"SEC Outlines Hedge Fund Training Initiative for Staff
By Susan L. Barreto, Senior Financial Correspondent
5:11:24 PM ET
NEW YORK (HedgeWorld.com)âAddressing attendees at the SIA-Hedge Fund Conference, Securities and Exchange
Commissioner Roel C. Campos highlighted what the commission hopes to accomplish with registration of hedge fund
managers and how the commission staff is training for it.
His Sept. 14 comments released by officials this week illustrate how SEC staff people hope to prepare themselves for
uncovering fraud in the hedge fund industry come February.
The Office of Compliance Inspections and Examinations has developed a rigorous training program for the commission's
examination staff, Mr. Campos said. At the center of the effort are bimonthly training sessions that will be coupled with a
certificate program sponsored by the Chartered Alternative Investment Analyst Association, which has offered its
certification to the hedge fund professionals since late 2002.
The bimonthly training sessions will continue over the next eight months and cover the product (structure, objectives,
strategies and style, investment tools and financial instruments); the business (portfolio management, risk management
and controls concerning credit, leverage and operations, tax-driven behavior, and use of administrators and outside
auditors); and trading practices, valuation techniques, distribution activities and communications with investors.
The CAIA program itself is a two-level exam system that focuses on five core areas: hedge funds, managed futures,
private equity, commodities and real estate. CAIA officials said a thorough review of traditional finance fundaments and
professional standards is included in the certification courses.
To date, 2,500 candidates from 46 countries have registered for the certification program, with more than 700
organizations sending participants through the CAIA courses."