General Solicitation of Private Funds – It Has Finally Arrived
July 2013
Solutions for Compliance Professionals
Mar. 2013
Chief of SEC Enforcement Speaks About the Concerns and Initiatives of Private Fund Advisers
In a recent speech at the Private Equity International Conference in New York, Bruce Karpati, Chief of the Securities and Exchange Commission’s (“SEC”) Enforcement Division’s Asset Management Unit, addressed private equity enforcement concerns. While the SEC has not traditionally brought … Read More
Compliance End-of-the-Year Checklist Update
Nov. 2012
Update: California Private Fund Adviser Exemption is Effective
A permanent private fund adviser exemption has been adopted by the California Department of Corporations (the “Department”). The exemption was effective August 27, 2012, following public comments first received between February 20th and March 25th, 2012. Several amendments were made … Read More
CFTC’s final rule regarding de minimis exemption from registration
On February 8, 2012, the Commodity Futures Trading Commission (“CFTC” or “Commission”) put forth final regulations repealing the popular exemption from registration for private fund managers under CFTC Regulation 4.13(a)(4) (exemption for commodity pool operator) and 4.13(a)(8) (exemption for commodity … Read More
Outsourcing Solutions for Compliance Professionals
Apr. 2012
JOBS Act Changes the Playing Field for Private Funds: General Solicitation Now Permitted
The Jumpstart Our Business Startups Act (the “JOBS Act”), which was signed into law by President Obama on April 5, 2012, ushers in significant changes to many of the federal securities laws. In addition to lowering the costs associated with … Read More
CFTC Rescinds Commonly Used Exemption from CPO Registration
On February 8, 2012, the Commodity Futures Trading Commission (“CFTC”) issued final regulations that repeal the exemption from registration as a commodity pool operator (“CPO”) set forth in CFTC Regulation 4.13(a)(4), which is widely used by operators of private funds … Read More