California Private Adviser Exemption Expected to Be Effective Soon
August 15, 2012 § Leave a comment
The final version of California’s private fund adviser exemption–creating a new class of “exempt reporting advisers”–has been submitted for adoption and publication. Further state action is required within 30 days of submission. « Read the rest of this entry »
California Files Final Amendments to Private Fund Adviser Exemption
August 7, 2012 § 3 Comments
The California Department of Corporations has submitted its final amendments for rules creating a new exemptive framework for advisers to private funds. Once effective, the revised rule would permit advisers to private funds to file as “exempt reporting advisers” (ERAs) rather than undergoing full investment adviser registration. The rule is subject to review by the California Office of Administrative Law which generally has thirty business days to act. That review period will expire in late August 2012. « Read the rest of this entry »
