Lift On General Solicitation Restrictions For Certain Private Funds
Jacko Law Group, P.C. (“JLG”) wrote a Legal Tip titled Lift On General Solicitation Restrictions For Certain Private Funds in July, 2012.… Read More
Update: California Private Fund Adviser Exemption Submitted for Final Approval
On July 17, 2012 the California Department of Corporations Commission filed final amendments to Section 260.204.9 of Title 10 of the California Code of Regulations with the state’s Office of Administrative Law (OAL). As reported here earlier this year, the…
California Department of Corporations Announces Additional Changes to Proposed Private Fund Adviser Exemption
On June 18, 2012 the California Department of Corporations (DOC) published notice of additional changes to its proposed private fund adviser exemption regulation (10 CCR §260.204.9) and a new 15-day public comment period. As reported earlier, the DOC’s proposed rule…
Private Fund Regulation: SEC Examination And Enforcement Hot Topics – Part 2
Jacko Law Group, P.C. (“JLG”) wrote a Legal Tip titled Private Fund Regulation: Sec Examination And Enforcement Hot Topics – Part 2 in January, 2012.… Read More
The End of the General Solicitation and Advertising Prohibition for Private Funds?
Earlier this month, the Managed Fund Association (“MFA”), the largest lobbyist for the alternative investment industry, petitioned the SEC to amend Rule 502(c) of Regulation D to eliminate the prohibition on general solicitation or general advertising with respect to private…
Private Fund Regulation: SEC Examination And Enforcement Hot Topics – Part 1
Jacko Law Group, P.C. (“JLG”) wrote a Legal Tip titled Private Fund Regulation: Sec Examination And Enforcement Hot Topics – Part 1 in December, 2011.… Read More
SEC Focuses on Suspicious Hedge Fund Performance to Identify Potential Fraud
On December 1, the SEC announced enforcement actions against three advisory firms and six individuals as part of the Commission’s new initiative whereby the Commission’s Asset Management Unit uses proprietary risk analytics to evaluate hedge fund returns. Performance that appears…
Private Fund Regulation: SEC Examination and Enforcement Hot Topics
Jacko Law Group, P.C. (“JLG”) wrote the article titled Private Fund Regulation: SEC Examination and Enforcement Hot Topics which was published in the National Society of Compliance Professionals (NSCP) Currents’ November/December 2011 issue. … Read More
SEC No-Action Letter Provides Further Guidance for Private Fund Solicitors
As discussed in a previous blog posting, investment advisers must comply with Rule 206(4)-3 (the “Rule”) of the Investment Advisers Act of 1940 when using solicitors. Notably, in July 2008, the SEC issued a no-action letter (the “Letter”) which provided…
Considerations for Structuring Finders Arrangements
Hedge funds, private equity funds, venture capital funds and other types of private funds commonly utilize third parties to promote their funds and raise capital from potential investors. These third parties are commonly referred to as “finders.” When entering into…