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Investment Funds › Regulatory Requirements › No-Action Letters

Venable LLP

Private Funds Get a Break: SEC No-Action Letter Offers Relief for Private Fund Verification

Venable LLP on

In a March 12, 2025 no-action letter, the SEC staff provided commonsense guidance relating to verification of accredited investor status under rule 506(c). The guidance aligns with industry practice and has the potential to...more

Vedder Price

SEC Staff No-Action Letter Allows Issuers to Rely on High Minimum Investment Amounts to Verify Purchasers in Rule 506(c) Offerings

Vedder Price on

On March 12, 2025, the staff of the Securities and Exchange Commission (“SEC”) issued no-action guidance providing that certain minimum investment amounts, along with certain written representations from the purchaser, could...more

Herbert Smith Freehills Kramer

SEC Staff Issues No-Action Relief Under Custody Rule

Herbert Smith Freehills Kramer on

The SEC staff has issued a no-action letter to Madison Capital Funding LLC, allowing the registered investment adviser to conduct certain loan syndication activities despite its inability to comply with certain requirements...more

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