SOP Advisors

SOP Advisors does not make investment decisions or manage discretionary capital. It is a regulatory and compliance consultancy that advises asset managers on SEC and CFTC rules. Managing Member Sean O'Neil drives the firm's client engagements and regulatory analysis. The firm's clients—hedge funds, PE sponsors, and CTAs—retain full control over their own investment decisions.

The firm specializes in the Investment Advisers Act of 1940, the Commodity Exchange Act, and SEC and CFTC rules affecting private fund managers. Key areas include Form PF and Form CPO-PQR filing obligations, swap-dealer and commodity pool operator registration thresholds, Regulation D Rule 506(c) structuring, and uncleared swap margin rules under CFTC Rule 23.151. SOP Advisors updated its regulatory summaries in April 2025 to reflect expanded Form PF reporting requirements.

SOP Advisors serves alternative investment managers—hedge funds, private equity sponsors, commodity trading advisors, and commodity pool operators—who need derivatives-focused regulatory guidance. Its clients tend to be mid-sized or emerging managers without in-house regulatory counsel. The firm's national client base is concentrated in financial centers including New York, Connecticut, and California.