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Best Execution, Due Diligence Primary Concerns Regarding Hedge Funds’ Use of Dark Pools

August 11, 2016

Hedge Fund Legal & Compliance Digest

Lee D. Unterman, Montgomery McCracken’s Financial Partner and Managing Partner of the firm’s New York office, was quoted on Hedge Fund Legal & Compliance Digest’s article “Best Execution, Due Diligence Primary Concerns Regarding Hedge Funds’ Use of Dark Pools.”

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The U.K. Financial Conduct Authority recently conducted a thematic review of the country’s dark pools by analyzing various data and informational sources, as well as speaking with both operators and users (including hedge funds) to gauge dark pool trading in the U.K. And while the survey focused on the U.K. market, there are lessons for all participants in dark pools. This article summarizes the key findings of that review and, along with insight from Lee Unterman, a partner at Montgomery McCracken Walker & Rhoads, provides timely guidance for hedge funds who utilize dark pools when performing due diligence on dark pool operators and addressing best execution issues that might arise in the course of that utilization.

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To view the full article, please click here.