Registration Delayed for Private Fund Advisers; New Registration, Reporting, and Disclosure Requirements Adopted
On June 22, 2011, the SEC adopted final rules requiring advisers to private funds to register with the SEC and confirmed rumors of an extension of the new registration date required for previously unregistered private fund advisers, which is now … Read More
Will Private Fund Managers Have to Register Yet Again?
Currently, Rules 4.13(a)(3) and 4.13(a)(4), which were adopted by the Commodity Futures Trading Commission (“CFTC”), provide exemptions from registration as a Commodity Pool Operator (“CPO”) for managers of certain private funds provided that the private funds either: (i) limit their … Read More
SEC Proposes Private Fund Reporting Rule Requiring Significant Additional Disclosures by Private Fund Advisers
On January 25, 2011, the SEC proposed new Rule 204(b)–1 under the Advisers Act to require that SEC-registered investment advisers report systemic risk information to the SEC on Form PF if they advise one or more private funds. The information … Read More
Department of Labor Issues New Disclosure Requirements for 401(k) Plans
On October 20, 2010, long-awaited Department of Labor (DOL) rules were released in their final form. The new rules require plan fiduciaries, specifically the companies sponsoring 401(k) plans, to make detailed disclosures to plan participants. The rule officially takes effect … Read More
Delaware Supreme Court Holds that Hedge Funds Formed in Delaware May be Required to Disclose Names and Addresses of all Limited Partners Upon Request
The Delaware Revised Uniform Limited Partnership Act (“DRULPA”), under which many U.S. hedge funds are organized, entitles limited partners to access partnership information and records for purposes reasonably related to their interest as a limited partner, but DRULPA also provides … Read More