The Hedge Fund Standards Board (HFSB) has published a revised version of its best practice standards for hedge funds (standards). The HFSB consulted on the revisions to its standards in the areas of disclosure of exit terms, and independent administration and safekeeping, in two consultation papers in July 2009 .

The amendments to the standards have been made in Standard 2 and in the new Standard 17a.

The HFSB has also published the following two feedback statements in relation to its July 2009 consultations:

1. Feedback statement on consultation paper (CP1/2009) (Hedge Fund Redemptions).
   • http://www.hfsb.org/sites/10109/files/20100301_feedback_statement_on_redemptions.pdf
2. Feedback statement on consultation paper (CP2/2009) (Administration and Safekeeping).
   • http://www.hfsb.org/sites/10109/files/20100301_feedback_statement_on_administration_and_safekeeping.pdf

The feedback statements summarise the feedback received on the consultations, and set out the amendments to the standards in tracked changes.

The amendments to the standards come into effect on 1 August 2010. The HFSB signatories will need to revisit and adapt their disclosure statements in light of these amendments, as appropriate.

• http://www.hfsb.org/sites/10109/files/final_standards_from_(hs)_21_jan_2008_(2)td20100323.pdf