The two most common exemptions from registration under the Investment Company Act of 1940 (the “Act”) utilized by private funds are under Section 3(c)(7) and Section 3(c)(1). Funds that do not qualify for an exemption under...more
As a reminder, investment advisers who are subject to any state registration, renewal or notice filing fees must have funded their IARD accounts by December 11, 2023 in order to cover such fees (with a recommendation from...more
On August 23, 2023, the Securities and Exchange Commission (the “SEC”) approved by a 3-2 vote a final rule enacting a series of wide-sweeping changes to the regulation of the private funds industry (the “Final Rule”). While...more
8/25/2023
/ Compliance ,
Disclosure Requirements ,
Final Rules ,
Fund Managers ,
Investment ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Management ,
Investors ,
Private Funds ,
Proposed Rules ,
Registered Investment Advisors ,
Regulatory Requirements ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
On November 4, 2022, the U.S. Securities and Exchange Commission (the “SEC”) began enforcing its updated advertising requirements for federally registered advisers. Those rules, described in greater detail here, represented a...more
1/5/2023
/ Advertising ,
Investment ,
Investment Adviser ,
Marketing ,
New Guidance ,
New Rules ,
Policies and Procedures ,
Registered Investment Advisors ,
Securities and Exchange Commission (SEC) ,
Solicitation ,
State and Local Government
On March 30, 2022, the U.S. Securities and Exchange Commission (“SEC”) Division of Examinations (the “Division”) (formerly the Office of Compliance Inspections and Examinations) published its annual examination priorities for...more
4/28/2022
/ Broker-Dealer ,
Digital Assets ,
Disclosure Requirements ,
Emerging Technologies ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
Investment ,
Investment Adviser ,
Private Funds ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
Standard of Conduct
SBA’s Office of Investment and Innovation has revised the semi-monthly draw application schedule for the 2020 holiday season with the first revised deadline occurring on Tuesday, November 3, 2020...more
Investment Advisers -
ANNUAL COMPLIANCE REVIEWS -
All investment advisers registered with the Securities and Exchange Commission (“SEC”) or at the state level are required to review their compliance policies and procedures...more
2/7/2020
/ Alternative Investment Fund Managers Directive (AIFMD) ,
California Consumer Privacy Act (CCPA) ,
Cayman Islands ,
Cooperative Compliance Regime ,
Cybersecurity ,
Data Protection ,
Derivatives ,
Employee Privacy Rights ,
EU ,
Exemptive Rule ,
FATCA ,
FBAR ,
Form ADV ,
Form CRS ,
Form D Filing ,
Form PQR ,
General Data Protection Regulation (GDPR) ,
Investment ,
Investment Adviser ,
Pay-To-Play ,
Personal Data ,
Popular ,
Securities and Exchange Commission (SEC) ,
Swaps
On September 17, 2019, the Licensing Department of the Investment Division of the U.S. Small Business Administration (“SBA”) announced that, effective immediately, all license applications should be submitted electronically...more