Private fund advisers continually balance their ongoing responsibility to ensure that the funds they advise comply with such funds’ governing documents and their responsibility to ensure their own compliance with applicable...more
7/18/2025
/ Affiliates ,
Compliance ,
Conflicts of Interest ,
Documentation ,
Enforcement Actions ,
Fiduciary Duty ,
Investigations ,
Investment Adviser ,
Investors ,
Policies and Procedures ,
Private Funds ,
Risk Management ,
Securities and Exchange Commission (SEC)
The Securities Act of 1933, as amended (Securities Act), requires that any offer or sale of securities in the United States must either be registered with the SEC or qualify for an exemption to registration thereunder....more
3/25/2025
/ Broker-Dealer ,
Capital Markets ,
Compliance ,
Financial Regulatory Reform ,
Investment ,
Investors ,
IRS ,
Regulatory Requirements ,
Rule 506 Offerings ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
Over the last six years, investment management professionals have steadily increased their use of alternative data to improve decision-making, optimize portfolios, improve due diligence, and boost returns. Now, with widely...more
3/4/2025
/ Algorithms ,
Analytics ,
Artificial Intelligence ,
Data Brokers ,
Data Management ,
Financial Services Industry ,
FinTech ,
Hedge Funds ,
Investment ,
Investment Adviser ,
Investment Management ,
Investors ,
Machine Learning ,
Risk Management
On May 14, 2024, the U.S. Securities and Exchange Commission (SEC) announced a settlement with a registered investment adviser (Adviser) that found the Adviser had (a) failed to adequately disclose conflicts pertaining to...more
Limited partnership agreements and similar documents that govern private funds are often amended over the course of a fund’s life cycle. For example, many funds may be currently going through the amendment process in...more
On February 14, 2024, the U.S. Securities and Exchange Commission (the SEC) proposed a rule (the Proposal) that would increase the threshold for what is considered a “qualifying venture capital fund” from $10 million to $12...more
Alternative data continues to strongly influence the decision-making of investment professionals across all areas of the investment management industry. In a testament to the rising importance of alternative data, the...more
As we have discussed in earlier Client Alerts, on August 23, 2023, the U.S. Securities and Exchange Commission (SEC) adopted new and amended rules under the Investment Advisers Act of 1940, as amended (the Advisers Act), to...more
12/7/2023
/ Disclosure Requirements ,
Fund Managers ,
Fund of Funds ,
Illiquid Assets ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Portfolios ,
Investors ,
Performance Standards ,
Private Funds ,
Quarterly Report ,
Recordkeeping Requirements ,
Registered Investment Advisors ,
Reporting Requirements ,
Securities and Exchange Commission (SEC)
On August 23, 2023, the U.S. Securities and Exchange Commission (SEC) adopted new and amended rules under the Investment Advisers Act of 1940, as amended (the Advisers Act), to address certain conflicts of interest and...more
10/25/2023
/ Fund Managers ,
Investment Adviser ,
Investment Company Act of 1940 ,
Investors ,
Legacy Funds ,
Policies and Procedures ,
Pooled Investment Vehicles ,
Preferred Treatment ,
Private Funds ,
Recordkeeping Requirements ,
Securities and Exchange Commission (SEC) ,
Transparency
On August 23, 2023, the U.S. Securities and Exchange Commission (SEC) announced the enactment of a series of new and amended rules under the Investment Advisers Act of 1940, as amended (the Advisers Act). We refer to these...more
8/30/2023
/ Audits ,
Compliance ,
Consent ,
Custody Rule ,
Disclosure Requirements ,
Final Rules ,
Fund Managers ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investors ,
Private Funds ,
Quarterly Report ,
Recordkeeping Requirements ,
Registered Investment Advisors ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Transparency
What You Need To Know:
•The SEC proposes to exempt two types of Finders from broker-dealer registration pursuant if they satisfy certain conditions.
•Tier I Finders may provide potential investors’ contact information to...more
10/20/2020
/ Broker-Dealer ,
Capital Investments ,
Disclosure ,
Exemptions ,
Finders ,
Hedge Funds ,
Investors ,
Private Equity Funds ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Third Party Funding ,
Unregistered Brokers ,
Venture Capital ,
Written Agreements