Episode 75: Cayman Directors with Darragh Murphy, Marfire

Darragh Murphy from Marfire joins me in the Tokens of Wisdom Studio to tell us all about the wonderful world of Cayman fund directors. From choosing the right director, to working with them once chosen, to navigating the complexities across a fund’s lifecycle, Darragh shares the wisdom.

Key Points From This Episode:

• What is the role of an independent director in the Cayman funds space?
• Does engaging an independent director mean I am losing control of my fund?
• Does my Cayman fund always need an independent director?
• How do you approach conflicts of interest in your role?
• What’s your role in AML and KYC compliance?
• How do you handle situations when a fund is in distress?
• How should I choose the right director?
• What’s the smartest thing a new fund manager can do?

Disclaimer:

This show is for informational purposes only. Nothing presented here constitutes legal, investment or tax advice. The guests that join us share their considerable fund-related wisdom, but everything they share here is their personal opinion and for educational purposes only. On this show, they are speaking for themselves, and not for their employer or any affiliated entity.

Tokens of Wisdom is produced by Dave Rothschild, partner at Cole-Frieman & Mallon LLP headquartered in San Francisco, California. For more information, visit https://colefrieman.com/

Links Mentioned in Today’s Episode:

Dave Rothschild - https://www.linkedin.com/in/davidcrothschild/

Darragh Murphy - https://www.linkedin.com/in/darragh-murphy-cta/

Cole-Frieman & Mallon LLP - https://colefrieman.com/

Marfire - https://www.marfire.co/

Music by Joe Ginsberg - https://www.instagram.com/thejoeginsberg

For any questions or comments, email: tow@colefrieman.com

Episode 74: Cayman Funds with Patrick Colegrave, Forbes Hare

Patrick Colegrave joins me in the Tokens of Wisdom Studio to discuss all things Cayman funds. From local regulatory requirements to investor expectations to setup costs, Patrick covers the ins and outs of Cayman fund formation.

Key Points From This Episode:

• Why should I choose Cayman over BVI (or should I?)?
• Does my Cayman fund always need to register with CIMA?
• What does the formation process cost/involve?
• What are the most common entity types for Cayman fund vehicles?
• Is there a specific type of entity that works best for specific types of fund?
• Local regulatory requirements for a Cayman fund.
• How should I choose the right offshore counsel?

Disclaimer:

This show is for informational purposes only. Nothing presented here constitutes legal, investment or tax advice. The guests that join us share their considerable fund-related wisdom, but everything they share here is their personal opinion and for educational purposes only. On this show, they are speaking for themselves, and not for their employer or any affiliated entity.

Tokens of Wisdom is produced by Dave Rothschild, partner at Cole-Frieman & Mallon LLP headquartered in San Francisco, California. For more information, visit https://colefrieman.com/

Links Mentioned in Today’s Episode:

Dave Rothschild - https://www.linkedin.com/in/davidcrothschild/

Patrick Colegrave - https://www.linkedin.com/in/patrickcolegrave/

Cole-Frieman & Mallon LLP - https://colefrieman.com/

Forbes Hare - https://forbeshare.com/

Music by Joe Ginsberg - https://www.instagram.com/thejoeginsberg

For any questions or comments, email: tow@colefrieman.com

Episode 73: Prime Brokerage with Harry Shillingford, Marex

My old pal Harry Shillingford from Marex joins me in the Tokens of Wisdom Studio to talk about the intricacies of prime brokerage. We delve into scintillating topics like “what does a prime broker actually do?” (answer: a lot) and “should I draw fund inspiration from Field of Dreams?” (answer: no). Harry also shares some serious wisdom on budgeting and choosing the right broker.

Key Points From This Episode:

• Difference between an introducing broker and a prime broker.
• What kinds of services do PBs provide?
• What’s involved in cap intro?
• What’s involved in outsourced trading?
• When might I think about engaging an outsourced trader?
• How do I choose the right broker for my fund?

Disclaimer:

This show is for informational purposes only. Nothing presented here constitutes legal, investment or tax advice. The guests that join us share their considerable fund-related wisdom, but everything they share here is their personal opinion and for educational purposes only. On this show, they are speaking for themselves, and not for their employer or any affiliated entity.

Tokens of Wisdom is produced by Dave Rothschild, partner at Cole-Frieman & Mallon LLP headquartered in San Francisco, California. For more information, visit https://colefrieman.com/

Links Mentioned in Today’s Episode:

Dave Rothschild - https://www.linkedin.com/in/davidcrothschild/

Harry Shillingford - https://www.linkedin.com/in/harry-shillingford-527745b/

Cole-Frieman & Mallon LLP - https://colefrieman.com/

Marex - https://www.marex.com/

Music by Joe Ginsberg - https://www.instagram.com/thejoeginsberg

For any questions or comments, email: tow@colefrieman.com

A special episode that has nothing to do with funds or law and everything to do with baseball glory.

Episode 71: Fund Manager Insurance with James Tallarico and Kevin Flasch, Risk Strategies

Joining me in the Tokens of Wisdom Studio today are James Tallarico and Kevin Flasch from Risk Strategies to discuss the evolving landscape of insurance in the crypto space. They delve into the differences between insurance brokers and providers, the challenges faced in obtaining adequate coverage for crypto-related businesses, and the importance of tailored insurance policies. The conversation covers essential coverages for fund managers, the evaluation of insurance costs, and common mistakes made by new managers when purchasing insurance.

Key Points From This Episode:

• Difference between an insurance brokerage and a provider.
• Insurance for the crypto space was historically inadequate.
• Risk Strategies created a proprietary GPL policy form for crypto.
• What are D&O and E&O?
• What other kinds of insurance should fund managers obtain?
• Insurance costs are influenced by assets under management (AUM).
• New fund managers often underinsure or misallocate costs.
• Understanding policy language is vital to avoid coverage gaps.

Disclaimer:

This show is for informational purposes only. Nothing presented here constitutes legal, investment or tax advice. The guests that join us share their considerable fund-related wisdom, but everything they share here is their personal opinion and for educational purposes only. On this show, they are speaking for themselves, and not for their employer or any affiliated entity.

Tokens of Wisdom is produced by Dave Rothschild, partner at Cole-Frieman & Mallon LLP headquartered in San Francisco, California. For more information, visit https://colefrieman.com/

Links Mentioned in Today’s Episode:

Dave Rothschild - https://www.linkedin.com/in/davidcrothschild/

James Tallarico - https://www.linkedin.com/in/james-tallarico-466290100/

Kevin Flasch - https://www.linkedin.com/in/kevin-flasch-749412339/

Cole-Frieman & Mallon LLP - https://colefrieman.com/

Risk Strategies - https://www.risk-strategies.com/

Music by Joe Ginsberg - https://www.instagram.com/thejoeginsberg

For any questions or comments, email: tow@colefrieman.com

Episode 70: The SEC Knows Action

Last week we saw the SEC release not one but two No Action Letters that were each deeply positive for the crypto industry.

Tune in to today’s episode for a quick recap of each and a reminder of where we currently stand on the regulatory ladder.

Key Points From This Episode:

• DoubleZero No Action Letter.
• Crypto custody No Action Letter.

Disclaimer:

This show is for informational purposes only. Nothing presented here constitutes legal, investment or tax advice. The guests that join us are sharing their considerable fund-related wisdom, but everything they share here is their personal opinion and for educational purposes only. On this show, they are speaking for themselves, and not for their employer or any affiliated entity.

Tokens of Wisdom is produced by Dave Rothschild, partner at Cole-Frieman & Mallon LLP headquartered in San Francisco, California. For more information, visit https://colefrieman.com/

Links Mentioned in Today’s Episode:

Dave Rothschild - https://www.linkedin.com/in/davidcrothschild/

Cole-Frieman & Mallon LLP - https://colefrieman.com/

Music by Joe Ginsberg - https://www.instagram.com/thejoeginsberg

For any questions or comments, email: tow@colefrieman.com

Episode 69: Fund Valuations with Joe Brennan, Houlihan Capital

Joining me in the Tokens of Wisdom Studio today is Joe Brennan, a director at Houlihan Capital, to discuss the intricacies of fund valuations, particularly in the context of crypto assets.

Key Points From This Episode:

• The importance of establishing proper valuation policies.
• When would a fund need specialized valuation services?
• When is the right time to engage a provider like Houlihan?
• How do they work with auditors and other fund service providers?
• How to choose the right provider?
• What can I do to make my valuation process more efficient?

Disclaimer:

This show is for informational purposes only. Nothing presented here constitutes legal, investment or tax advice. The guests that join us share their considerable fund-related wisdom, but everything they share here is their personal opinion and for educational purposes only. On this show, they are speaking for themselves, and not for their employer or any affiliated entity.

Tokens of Wisdom is produced by Dave Rothschild, partner at Cole-Frieman & Mallon LLP headquartered in San Francisco, California. For more information, visit https://colefrieman.com/

Links Mentioned in Today’s Episode:

Dave Rothschild - https://www.linkedin.com/in/davidcrothschild/

Joe Brennan - https://www.linkedin.com/in/joe-brennan-94919724/

Cole-Frieman & Mallon LLP - https://colefrieman.com/

Houlihan Capital - https://www.houlihancapital.com/

Music by Joe Ginsberg - https://www.instagram.com/thejoeginsberg

For any questions or comments, email: tow@colefrieman.com

Episode 68: Crypto Fund Audits with Gautam Ganeshan, KPMG

Today I’m joined by Gautam Ganeshan from KPMG to talk all about digital asset fund audits!

Key Points From This Episode:

• Are crypto assets categorized in the same Level 1, Level 2, Level 3 framework as traditional assets?
• What are examples of each Level in the crypto world?
• How does the scope of a crypto fund audit compare to a tradfi fund audit?
• What are the unique challenges involved in auditing a fund with a digital asset strategy?
• Valuation and existence of assets – what’s different about digital assets?
• How should a new digital asset fund manager choose the right auditor?
• What can I proactively do to make the process efficient?

Disclaimer:

This show is for informational purposes only. Nothing presented here constitutes legal, investment or tax advice. The guests that join us are sharing their considerable fund-related wisdom, but everything they share here is their personal opinion and for educational purposes only. On this show, they are speaking for themselves, and not for their employer or any affiliated entity.

Tokens of Wisdom is produced by Dave Rothschild, partner at Cole-Frieman & Mallon LLP headquartered in San Francisco, California. For more information, visit https://colefrieman.com/

Links Mentioned in Today’s Episode:

Dave Rothschild - https://www.linkedin.com/in/davidcrothschild/

Gautam Ganeshan - https://www.linkedin.com/in/gautam-ganeshan-cpa-ca-cfa-4696931a/

Cole-Frieman & Mallon LLP - https://colefrieman.com/

KPMG - https://kpmg.com/ky/en/home.html

Music by Joe Ginsberg - https://www.instagram.com/thejoeginsberg

For any questions or comments, email: tow@colefrieman.com