SEC Will Miss Deadline for Fund Advertising Rules
June 27, 2012 § 4 Comments
According to anticipated testimony by SEC Chairman Mary Schapiro, the SEC will miss the deadline to adopt rules that would lift the ban on advertising and general solicitation by hedge funds and other private pooled investment vehicles. « Read the rest of this entry »
California Modifies Proposed Private Adviser Exemption
June 21, 2012 § 2 Comments
The California Department of Corporations has further modified its proposed rules exempting private fund managers from full investment adviser registration. The revised proposal makes the following changes to the previous version of the rule: « Read the rest of this entry »
Ready to Take Advantage of JOBS Act Changes? Be Patient
June 6, 2012 § 3 Comments
By now, most private fund managers are aware that the Jumpstart Our Business Startups (JOBS) Act instructed the SEC to remove the ban on general solicitation and advertising from the exemption that most funds rely on when offering their interests to investors. Many managers are anxious to begin advertising and expanding their marketing efforts. Doing so before the SEC issues its final rules, however, is extremely risky for a number of reasons summarized below. We caution managers to hold off until those rules are in place which is expected to be in early July. « Read the rest of this entry »
What SEC Registration Means for Hedge Fund Advisers
May 30, 2012 Comments Off on What SEC Registration Means for Hedge Fund Advisers
As noted in a previous post, the Deputy Director of the SEC’s Office of Compliance Inspections and Examinations (OCIE) recently gave a speech that quantified some of the effects that Dodd-Frank has had on registered investment advisers. OCIE’s Deputy Director also suggested ten takeaways for advisers to hedge funds now that they are registered. The list is also a helpful reminder for previously registered advisers. « Read the rest of this entry »
Dodd-Frank Leads to 50% Increase in SEC-Registered Private Fund Managers
May 15, 2012 § 1 Comment
According to comments by the Deputy Director of the SEC’s Office of Compliance Inspections and Enforcement, since passage of the Dodd-Frank Act (July 2011), the number of SEC-registered private fund advisers has grown from approximately 2,550 to approximately 4,000–an increase of 52%.
Other items of interest from the speech: « Read the rest of this entry »
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