Top-ranked accounting and consulting firm Rothstein Kass, which specializes in serving the alternative investments industry, said that it is selling its interests in RK Consulting, the firm's investment fund administration affiliate, to stave off independence issues.

"Due to increasing regulation in the accounting industry and to ensure our independence and objectivity, it was in the best interest of Rothstein Kass, its clients and employees to divest the firm's interests in the fund administration business," Steven Kass, a member of the firm's executive committee, said of the move.

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