Compliance Deadlines - First Quarter 2014

There are many regulatory filings and compliance forms that fund managers need to complete throughout the year. Below is a list of some of the key compliance dates for the first quarter of 2014. Please note that this is general advice that is applicable to most investment advisers with a December 31st fiscal year end. This list is not exhaustive. Fund managers must consider the following key compliance tasks and dates:

February 14, 2014 Form 13H updates Form 13F filings

March 3, 2014 CFTC 4.13(a)(3) affirmations

March 31, 2014 Form ADV updates

April 30, 2014 Form PF updates (Due by April 30th for most advisers)

Other Key Compliance Requirements for the first quarter of 2014 include: - Form D is due 12 months from the funds' last Form D filing. - Audited Financial Statements delivered to investors and/or the NFA are due by April 30th for funds. NOTE: Fund-of-funds have until June 30th, subject to waiver request for NFA CPOs. - Mailing privacy policy to investors/clients. - Conducting an annual compliance review. - Sending new issue affirmations to investors. - Business continuity testing and best execution review. - Sending Bad Actor questionnaire.

Please reach out to your Sadis & Goldberg contact to discuss your specific situation.

Cheryl Spratt