SEC-registered investment advisers with assets under management between $25 million and $100 million will generally be required to transition to state registration under the Dodd-Frank Act. Using information obtained from IARD, the California Department of Corporations issued a notice to … Read More
As discussed in this prior post, the final deadline for previously exempt advisers (including advisers to hedge funds and private equity funds) to become registered with the SEC is March 30, 2012. The SEC is already showing signs that it … Read More
Arizona recently added a new documentation requirement for investment adviser representatives doing business in that state. Pursuant to Section 41-1080 of the Arizona Revised Statutes, Investment Adviser Representatives (IARs) must show they are U.S. citizens or in the United States … Read More
Last week, the Massachusetts Securities Division (the “Division”) adopted new regulations for investment advisers doing business within the State. This included legislation relating to the use of expert network firms and other paid consultants, limitations on investment advisers from receiving … Read More
Last week, in addition to adopting new investment adviser registration requirements and exemptions, the SEC adopted several revisions to Form ADV Part 1A that require advisers to provide more detailed information about private funds they advise, their advisory business (including … Read More
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
California’s new law requiring RIA placement agents to register as lobbyists has generated substantial interest throughout the investment management community. Pursuant to the legislation and the regulations adopted under it, certain placement agents and others seeking business from California’s CALPERS … Read More
Rule 506 under Regulation D, the most widely used exemption from the registration requirements of the Securities Act of 1933, permits issuers to offer and sell securities to an unlimited number of “accredited investors” and up to 35 non-accredited investors. … Read More
Over the past few months, several states have commenced the process of adopting revised investment adviser registration requirements and new exemptions. These changes are based on the increase in the assets under the management threshold for SEC registration and the … Read More