Podcast: Credit Funds: Hot Topics in BDC Regulation
Podcast: Credit Funds: 1940 Act Interval Funds
At least once or twice per year, a prospective client will call with the greatest new idea—launch a venture fund for everyone. Open up potential fundraising by appealing to moderate-income people. Why hasn’t anyone thought of...more
We have separately discussed the common exemptions from registration of a fund manager with the Securities and Exchange Commission (SEC) as an investment adviser and from registration with the Commodity Future Trading...more
If an issuer of a securities wishes to generally advertise their private offering of securities, they can do so under Rule 506(c) of Regulation D of the Securities Act of 1933, which would exempt the offeror from registration...more
The SEC has proposed new rules that would clear up the longstanding difficulty a venture capital fund manager has faced when wanting to use a “finder” for investors in the fund and such “finder” is not licensed as (or...more
On August 26, 2020, after over a year’s worth of work examining how it may better simplify, harmonize and improve the framework and rules around exempt offerings under the Securities Act of 1933, as amended (the “Securities...more
Summary: On August 26, 2020, the Securities and Exchange Commission (the “SEC”) announced that it has adopted amendments to the definition of accredited investor under Regulation D of the Securities Act of 1933 (the...more
On August 26, 2020, the U.S. Securities and Exchange Commission adopted final rules to expand the accredited investor definition and modernize the disclosure requirements under Regulation S-K Items 101 (Business), 103 (Legal...more
I. INTRODUCTION - On December 18, 2019, the U.S. Securities and Exchange Commission (“SEC”) proposed amendments to Rule 501(a) of Regulation D promulgated under the Securities Act of 1933, as amended (“Securities Act”),...more
In June 2019, the Securities and Exchange Commission (the SEC) published a concept release (the Concept Release) that sought public comment on how to improve the framework for private securities offerings under the Securities...more
On July 15, 2019, the Securities and Exchange Commission (SEC) and North American Securities Administrators Association (NASAA) staffs released a joint statement (the “Statement”) addressing compliance implications for...more
In a flurry of enforcement activity in the digital asset space, the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA), a self-regulatory organization for broker-dealers,...more
Last week, on September 11, 2018, a number of “firsts” occurred in the prosecution of cryptocurrency-related activities. The Securities and Exchange Commission (SEC) brought its first-ever enforcement action involving a...more
On September 20, 2017, the staff of the SEC’s Division of Corporation Finance issued revised compliance and disclosure interpretations (“C&DIs”) for purposes reflecting updates for prior amendments to Securities Act Rules 147...more