HedgeOp Compliance has introduced two new tiers of its ADVassist adviser registration service, providing enhanced customisation for advisers registering as investment advisers with the Securities and Exchange Commission.

The new suite of services, ADVassist Basic and ADVassist Advanced, enable private fund advisers to fulfill registration and compliance requirements cost-effectively and appropriate to a fund's size and infrastructure.

"With financial reform a reality, private fund advisors should be preparing for registration now," says William Mulligan, managing partner and chief executive of HedgeOp Compliance. "Now is the time for these firms to implement a formal testing and review of their compliance procedures. In so doing, they'll be better equipped to identify issues that are of concern before they become problem spots."

ADVassist is designed to provide focused and efficient registration and compliance infrastructure development for private fund advisers registering with the SEC. Through support from its team of compliance experts, ADVassist provides managers with a cost-effective way to complete the registration process while laying the foundation for development of a compliance infrastructure, designed to help a firm meet both current and future regulations.

ADVassist's new structure features two levels of service that are designed to meet the needs of firms on an individualised basis, providing the flexibility for advisers - from billion dollar global funds to single manager firms - and those firms in between. Firms can opt for varying levels of support, ranging from basic SEC registration to more in-depth compliance infrastructure creation.

"There are vast differences in the structure and operations of a billion dollar global hedge fund firm and a single manager long-short fund firm and their respective compliance needs," says Mulligan. "We think that many firms will need this level of support, and we now have a service that can be scaled up or down to effectively meet the unique requirements a fund may have."