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Protecting The Firm and Its People: Addressing Insurance and Indemnification Challenges for Hedge Funds

Level: Advanced
Runtime: 61 minutes
Recorded Date: September 26, 2018
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  • Potential Hedge Fund Manage Losses and Liabilities
  • Indemnification Agreements
  • Protecting Individuals/Firms
  • Common Insurance Coverage
  • Notice Requirements
  • E&O / D&O Policies
  • Investigative Proceedings Constituting Covered Claims
  • Coverage for Wrongful Acts
  • Rescission
  • "Allocation" Disputes
  • Reservation of Rights by Insurers and Related Conflicts of Interests
Runtime: 1 hour
Recorded: September 26, 2018
For NY - Difficulty Level: Experienced attorneys only (non-transitional)


Because hedge fund managers often find themselves in the cross-hairs of class action firms and government regulators, and constantly face the threat of cyber-attacks and other business disrupting events, insurance policies, and indemnification agreements are critically important to a firm’s risk management strategy. How are insurance policies and Indemnification agreements protecting your firm and its directors and officers? Insurance coverages and indemnification rights that initially appear sufficient can later turn out to be inadequate when a problem strikes. What insurance and indemnification rights should be available to your organization and your people, and how can you vindicate your rights to payment?

This program was recorded as part of ALM and Corporate Counsel's Hedge Fund General Counsel and Compliance Officer Summit on September 26th, 2018.

Provided By

ALM Events
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Lance Friedler

General Counsel and CCO
Phoenix Investment Adviser LLC

Mr. Friedler joined Phoenix in June 2016 as General Counsel and Chief Compliance Officer. In this role, he oversees the firm’s legal and compliance matters.

Prior to joining Phoenix, Mr. Friedler was a Partner at Sadis & Goldberg where he counseled investment managers, commodity pool operators and commodity trading advisors on structuring and forming US and non-US investment funds, commodity pools and separately managed accounts. Mr. Friedler also prepared and negotiated various types of agreements, including seed capital agreements and joint venture agreements. Mr Friedler also regularly advised investment managers, commodity pool operators and commodity trading advisors on registration and ongoing compliance issues with the SEC, CFTC, NFA and FINRA.

Prior to joining Sadis & Goldberg, Mr. Friedler was a Partner at McCarter & English, where he represented numerous private investment funds and counseled investment advisers.

Mr. Friedler holds a J.D. degree, cum laude, from New York Law School.

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Michael R. Schwenk

General Counsel & Chief Compliance Officer
NWI Management LP

Michael R. Schwenk serves as the General Counsel and Chief Compliance Officer of NWI Management LP. Mr. Schwenk is responsible for all legal and regulatory issues affecting the firm and its advised funds, including compliance with securities and commodity future regulations. He joined NWI Management in May 2015.

Before joining NWI, Mr. Schwenk was the General Counsel and Chief Compliance Officer of Mizuho Alternative Investment, LLC from 2014 to 2015, and the General Counsel and Chief Compliance Officer of Platinum Grove Asset Management, L.P. from 2001 to 2014.

Mr. Schwenk received his juris doctor degree from the Benjamin N. Cardozo School of Law, New York, New York (1995) and his bachelor’s degree from The City College of New York (1992). He is a member of the New York bar.

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Stephen A. Weisbrod

Founding Member
Weisbrod Matteis & Copley PLLC

Stephen Weisbrod is a founding partner of Weisbrod Matteis & Copley PLLC. The firm is one of only ten firms in the United States named by The National Law Journal to its 2014 Litigation Boutiques Hot List.

Mr. Weisbrod is an experienced trial lawyer who represents clients in financial and commercial disputes, corporate bankruptcy and insolvency matters, and criminal investigations and trials. Most of his clients are businesses and individuals seeking payment from insurers, banks, investment managers, professionals, suppliers, or other parties liable for breach of contract, fraud, or some other kind of misconduct or breach of duty. He has represented companies, creditors’ committees, post-bankruptcy litigation trusts, individual directors and officers, and other individuals and entities in insurance, banking, securities and other types of litigation.

Mr. Weisbrod has tried more than 25 cases in six states and the District of Columbia. His clients at trial have included a defendant accused of the shooting of a rival gang member and attempting to kill a police officer (the defendant was acquitted), as well as an asset manager seeking to recover more than $57 million that it lost when a highly rated Canadian insurance company defaulted on its commercial paper (the case settled before closing arguments). He also has represented many individuals and companies in grand jury and regulatory investigations.

Mr. Weisbrod has written and lectured extensively on insurance and financial litigation. He has been invited to speak at the American Bankruptcy Institute, the American Bar Association Business Law Section, the American Conference Institute, the Consumer Rights Litigation Conference of the National Consumer Law Center, the District of Columbia Bar, the Grocery Manufacturers Association, HB Litigation Conferences, the National Association of Criminal Defense Lawyers, the New York City Bar Association, and elsewhere.

He is a graduate of the University of Michigan and Harvard Law School.

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