A legal blog on private funds, startups, and venture capital.
A legal blog on private funds, startups, and venture capital.
Recently, I posted a summary of the status of state investment advisor registration requirements for private fund managers in the Midwest in wake of adoption of the Dodd-Frank Act. Indiana, in particular had a rather confusing situation. Indiana’s Securities Division…
Representative David Schweikert (R-AZ) recently introduced a bill called the “Private Company Flexibility and Growth Act,” which promises to allow private companies to remain private for a longer period of time. Currently, if on the last day of a company’s fiscal…
As most people involved in the investment management industry know, many private investment fund managers will soon be required to register as investment advisers with the SEC, unless they meet certain exemptions, such as the so-called “private fund adviser exemption,”…
A bill called the Small Business Capital Access and Job Preservation Act recently cleared the Committee on Financial Services of the U.S. House of Representatives. The bill’s intent is to exempt certain private equity funds from Investment Adviser registration.
Previously, I discussed the impact that the proposed “bad actor” rule will have on angel financings and offerings of interests in private investment funds. By prohibiting the use of Rule 506 of Regulation D in connection with any offering that…
