The U.S. Securities and Exchange Commission (“SEC” and “Commission”) proposed new rules to increase hedge fund and private equity fund disclosures to increase oversight of the industry and to monitor
Continue Reading SEC Proposes More Stringent Rules for Hedge and Private Equity Funds
I never find it boring to review the investment adviser exemptions for private fund managers. Apparently, I am not the only one since this is a question we frequently field.
Continue Reading Fund Adviser Exemptions Primer– Redux
The United States Securities and Exchange Commission (“SEC”) adopted amendments to the definitions of both accredited investor under Securities Act of 1933 (“Securities Act”) Regulation D Rule 501 and qualified
Continue Reading SEC Changes Accredited Investor and Qualified Institutional Buyer Definitions
The SEC’s Office of Compliance Inspections and Examinations (“OCIE”) conducted a series of examinations into private fund advisers. See the SEC risk alert here. To say the least, OCIE
Continue Reading SEC Prepping for a New Round of Attacks on Fund Advisers
The United States Department of Labor (“DOL”) has had a very active summer regulating the securities industry. Yes, you heard it right, the DOL has made certain pronouncements that have
Continue Reading The DOL: The New Securities Regulator?
Join our colleagues, Jon Heyl and Alex Kerzhner, in what is sure to be an important review of the challenges facing the PE/HF industry during the pandemic. The webinar will
Continue Reading Join Jon Heyl and Alex Kerzhner Discussing Challenges the PE/HF Industry Faces During the Pandemic
In 2 separate actions, the SEC came down very hard on private equity/hedge funds regarding both disclosure and operational issues. See https://www.sec.gov/enforce/ia-5478-s; and https://www.sec.gov/enforce/ia-5485-s.
In the first action, a firm
Continue Reading Private Equity/Hedge Funds Have Not Been Lucky with the SEC Lately
The SEC recently brought and settled an action against a former wannabe fund manager, who lied to prospective investors that he already had raised millions of dollars in the fund
Continue Reading Fund Manager Tried (and Failed) to Obtain Investors by Lying About Other Investors’ Participation
The SEC’s Division of Investment Management issued updated guidance regarding the definition of “knowledgeable employees” under Rule 3c-5 of the Investment Company Act of 1940. See Managed Funds Ass’n, SEC
Continue Reading What are Knowledgeable Employees?
The SEC’s Division of Investment Management said it will not object if an investment adviser pays a cash fee for the solicitation of advisory clients, although a federal district court
Continue Reading Cash Solicitations Allowed Despite Court Bar