Yeah, you should do a lot of research and make sure the quarterly reporting is all set....a lot of "hedge funds" get in trouble because they trade under the freedoms of the RIA act but they don;t take the time to actually do the reporting.
TM, I do appreciate all this. I have been fighting through email with SEC for few days and still got almost nothing from them, that is how the things work Good luck to you to and good trading.