Author Timothy Spangler, of Laguna Beach, CA., is the Director of Research of the Lowell Milken Institute for Business Law and Policy Adjunct Faculty at UCLA Law. Spangler advises on the structuring and operation of a wide variety of investment funds. He has experience forming and structuring funds in the United States, the United Kingdom, the Cayman Islands, the Channel Islands, the Isle of Man, Bermuda, Mauritius, the Netherlands, Luxembourg, Germany and Ireland. He also advises regularly on the ongoing compliance obligations of investment management firms under the U.S. Investment Advisers Act of 1940 and the U.K. Financial Services and Markets Act 2000.