A legal blog on private funds, startups, and venture capital.

Shane Fitzmaurice

Shane Fitzmaurice is a corporate and securities attorney in Nashville, Tennessee. He counsels clients on corporate and securities transactions including mergers and acquisitions, entity formations, startups, capital raising transactions, and private fund formations.

Private Equity and Hedge Funds

Tennessee Securities Division Guidance on the De Minimis Exemption and Custody Rules

This advisory explains the Tennessee Securities Division’s new interpretation of the de minimis exemption and its interaction with custody rules, outlining key compliance options and risks for private fund managers.

Shane Fitzmaurice
March 24, 2026