Such forward looking statementsinvolve known and unknown risks and uncertainties that may cause actualresults to be materially different from those described herein as anticipated,believed, estimated or expected. Investors should not place undue reliance onthese forward-looking statements, which speak only as of the date of thispress release. The Company's actual results could differ materially from thoseanticipated in these forward-looking statements as a result of a variety offactors, including those discussed in the Company's periodic reports that arefiled with the Securities and Exchange Commission and available on its website(). All forward-looking statements attributable to the Company orto persons acting on its behalf are expressly qualified in their entirety bythese factors other than as required under the securities laws. The Companydoes not assume a duty to update these forward-looking statements.Company Contact: Mr Leo Wang Chief Financial Officer China Wind Systems, Inc. Tel: +1-877-224-6696 x705 Email: Web: http:// Relations Contact: Mr. Crocker Coulson President CCG Investor Relations Tel: +1-646-213-1915 (NY Office) Email: Web: http:// Wind Systems, Inc.Mr Leo Wang, Chief Financial Officer, China Wind Systems, Inc.
at+1-877-224-6696 x705 or ; Or Crocker Coulson,President, CCG Investor Relations at +1-646-213-1915 / /Web: http:// http://. The paper argues that hedge funds, private equityfirms and third-party fund administrators must approach compliancepreparations tactically, to avoid erroneous spending. It also maintainsthat funds must make compliance decisions with an eye toward attractingnew assets once investors return to the market over the next 18 months.The paper contends that the vast majority of hedge funds are not preparedfor more stringent regulation, and the new breed of investor they will befaced with when asset flows resume. "A case in point is last year's Lehmancrisis, when many fund managers took days, if not longer, to assess theirexposures to the firm. This revealed critical deficiencies in hedge funds'counterparty risk management and caused a major crisis in confidence,"said Howard Weinstein, Managing Partner of FinServ Consulting. "To complywith new rules, and to attract assets, hedge funds must be prepared toidentify, aggregate and report on counterparty risk exposures, across allfunds and lines of business."The paper also identifies and addresses fundamental deficiencies in theability of many third-party fund administrators (TPAs) to service complex,multi-fund asset managers. "Most TPAs have a really hard time supportingoperationally intensive funds such as multi-strategy, multi-fund assetmanagement firms and their unique asset blends.
Much of the work is stilldone manually, which leads to data integrity issues and the inability ofmanagers to respond quickly to regulator and investor requests," saidWeinstein. "TPAs that want to be more than a shadow organization will haveto improve their ability to deliver robust, customized services."The paper draws key lessons on compliance spending from the experiencesmany corporations had in complying with Sarbanes Oxley. "Firms doing thecompliance minimum spent the same amount as firms that approachedcompliance as an opportunity to improve their enterprise-wide processesand operations. Similarly, alternative asset management firms thatembrace the new rules as a catalyst for change will be the ones bestequipped to thrive and attract assets," said Weinstein.Investors will also put increasing pressure on the government for morereporting and controls on the hedge fund industry.
"Further regulation ofthe hedge fund industry is our new reality," said John Torell, CFO ofTudor Investments, and a contributor to the paper. "It is likely that anynew regulation will require enhanced financial disclosure. Improvedtransparency, in the form of increased information flow, will need to beboth well thought out and sufficiently targeted to help the regulatorsperform their responsibilities."A complete copy of the paper is available at http:// FinServ ConsultingBased in New Jersey, FinServ Consulting is an independent experiencedprovider of business consulting, systems development and integrationservices to alternative asset managers and service providers to thesector. Founded in 2005, FinServ delivers customized world-class businessand IT consulting services for the front, middle and back office,providing managers with optimal and first-class operating environments tosupport an opportunistic investment style and future asset growth. TheFinServ team brings a wealth of experience with the largest and mostcomplex alternative asset management businesses and institutions. Formore information, visit Contact:Scott KradyLJO Associates(212) 786-7628Email ContactCopyright 2009, Market Wire, All rights reserved.-0-.