Certified Hedge Fund Compliance Expert (CHFCE), distance learning and online certification program


The CHFCE program has been designed to provide with the knowledge and skills needed to understand and support regulatory compliance and risk management in the hedge funds industry. The course provides with the skills needed to pass the Certified Hedge Fund Compliance Expert (CHFCE) exam.

Target Audience

The CHFCE certification program is beneficial to:

- Managers and employees involved in the design and implementation of risk and compliance related strategies, policies, procedures, risk assessments, control activities, testing, documentation, monitoring and reporting in the hedge funds industry.

- Vendors, suppliers and service providers.

This course is intended for financial organizations demanding qualified professionals that meet the fit and proper requirements.

Course Synopsis

Part A: Hedge fund compliance.

Accredited investors.
Hedge funds are different.
The hedge fund compliance function.
Legal and compliance.
The Chief Compliance Officer (CCO).
Regulatory reporting.
Key compliance documentation.
Hedge fund compliance before the near-failure of the LTCM.
The turning point, Long Term Capital Management (LTCM).
Hedge fund compliance after the near-failure of the LTCM.
Lessons learned.
Case Study.

Part B: Hedge fund compliance standards and best practices in the USA.

U.S. regulators that oversee hedge funds.
The Securities and Exchange Commission (SEC).
The SEC rulemaking process.
SEC investigation.
Document retention.
The Commodity Futures Trading Commission (CFTC).
The U.S. Department of the Treasury.
The Financial Stability Oversight Council (FSOC).
The Federal Reserve System.
The Federal Deposit Insurance Corporation (FDIC).
The National Futures Association (NFA).
The Financial Industry Regulatory Authority (FINRA).

U.S. regulations.
The Securities Act of 1933.
The Securities Exchange Act of 1934.
The Investment Company Act of 1940.
The Investment Advisers Act of 1940.
The Sarbanes Oxley Act of 2002.
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
Regulation D.
The JOBS Act of 2012.
Rules and Regulations.
The financial crisis inquiry report.

Part C: Hedge fund compliance, standards and best practices in the European Union (EU).

The European Securities and Markets Authority (ESMA).

The Alternative Investment Fund Managers Directive (2011/61/EU).
Important articles.

Delegated Regulation (EU) No 231/2013.
Delegated Regulation (EU) No 694/2014.

The General Data Protection Regulation (GDPR) of the EU, and the extraterritorial application of EU law.
Important sections.
Territorial scope.
Principles relating to processing of personal data.
Data protection by design and by default.
Data protection impact assessment.
Tasks of the data protection officer.
Transfers of personal data to third countries.

Steps, from the European Union Agency for Network and Information Security (ENISA).

Closing remarks.

For secure payment we work with PayPal, the faster and safer way to make online payments. With PayPal we minimize the cost of administration and compliance with national and international laws, so we can keep the cost of our programs and services so low.

Only PayPal receives your credit card number and your financial information. We receive your full name, your email, and your mail address. According to the PayPal rules, you have the option to ask for a full refund up to 60 days after the payment. If you do not want one of our programs or services for any reason, all you must do is to send us an email and we will refund the payment, no questions asked.

When you click "Buy Now" below, you will be redirected to the PayPal web site. Your payment will be received by our strategic partner and service provider, Cyber Risk GmbH (Rebackerstrasse 7, 8810 Horgen, Switzerland, Handelsregister des Kantons Zürich, Firmennummer: CHE-244.099.341). Cyber Risk GmbH may also send certificates to all members.

We will send the program up to 24 hours after the payment.

The all-inclusive cost is $297. There is no additional cost, now or in the future, for this program.

What is included in this price:

A. The official presentations we use in our instructor-led classes (1,107 slides)

B. Up to 3 Online Exams

You have to pass one exam. If you fail, you must study the official presentations and try again, but you do not need to spend money. Up to 3 exams are included in the price. To learn more you may visit:



C. Your certificate

Processing and posting to your office or home (via registered mail).

Frequently Asked Questions

1. How comprehensive are the presentations? Are they just bullet points?

Answer: The presentations are not bullet points, you can read them, understand, and learn. These are the official presentations we use in our instructor-led classes.

2. Do I need to buy books to pass the exam?

Answer: No. If you study the presentations, you can pass the exam. All the exam questions are clearly answered in the presentations.

If you fail the first time, you must study more. Print the presentations and use Post-it to attach notes, like "CCO", "Operational Risk" etc., to know where to find the answer of a question.

3. Is it an open book exam? Why?

Answer: Yes, it is an open book exam. Risk and compliance management is not something you have to memorize, it is something you must understand and learn.

4. Do I have to sit for the exam soon after receiving the presentations?

Answer: No. You can sit for the exam from your office or home, any time in the future. Your account never expires and there is no restriction of any kind.

5. Do I have to spend more money in the future to remain certified?

Answer: No. Your certificate never expires. It will be valid, without the need to spend money or to sit for another exam in the future.

6. Ok, the certificate never expires, but things change.

Answer: Recertification would be a great recurring revenue stream for the association, but it would also be a recurring expense for our members. We resisted the temptation to "introduce multiple recurring revenue streams to keep business flowing", as we were consulted. No recertification is needed for our programs.

Things change, and this is the reason you need to become (at no cost) a member of the association. You will receive our newsletter every month, with updates and opportunities, to stay current.

7. How many hours do I need to study to pass the exam?

Answer: It depends on your knowledge and experience. You must study the presentations at least twice, to ensure you have learned the details. The average time needed is about 38 hours, but there are important differences.

8. I want to learn more about the online exam.

Answer: You will be given 90 minutes to complete a 35-question multiple-choice exam. You must score 70% or higher.

We do not send sample questions. If you study the presentations carefully, you can score 100%.

9. Why should I get certified?

Answer: After the failures of so many organizations during the recent crisis, firms and organizations hire "fit and proper" professionals who can provide evidence that they are qualified.

Companies and organizations need assurance that employees have the knowledge and skills needed to mitigate risks, and to accept more responsibility. Supervisors and auditors ask for independent evidence that the process owners are qualified, and that the controls can operate as designed, because the persons responsible for these controls have the necessary knowledge and experience.

The marketplace is clearly demanding qualified professionals in risk and compliance management. Certified professionals enjoy industry recognition and have more and better job opportunities.

It is important to get certified and to belong to professional associations. You prove that you are somebody who cares, learns, and belongs to a global community of professionals.

10. Why should I choose your certification program?

Answer: It is always good to investigate first. We strongly believe that we offer very good value for money.

1. The CHFCE is a unique program in the hedge funds industry.

2. The all-inclusive cost of the program ($297) is very low. There is no additional cost for this program, now or in the future, for any reason.

3. There are 3 exams that are included in the cost of the program, so you do not have to spend money again if you fail.

4. No recertification is required. Your certificate never expires.  

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