Strictly Business
A legal blog on private funds, startups, and venture capital.
Strictly Business
A legal blog on private funds, startups, and venture capital.
Tag Investment Adviser
California Department of Corporations Proposes New Private Fund Exemption
On December 15, 2011, the California Department of Corporations proposed revised regulations exempting certain private fund managers from investment adviser registration with the state of California. Background Previously, under Cal. Code Regs. tit. 10, § 260.204.9, private fund managers in…
Indiana Securities Division Updates Its Private Fund Exemption to Include Non-Venture Capital Funds
In August 2011, the Indiana Securities Division issued an Administrative Order updating its venture capital exemption from investment adviser registration under the Indiana Uniform Securities Act to harmonize its provisions with the new venture capital exemption in the Dodd-Frank Act.…
What are “regulatory assets under management” and why does a private fund adviser need to determine them?
Because of the investment adviser registration requirements and exempt reporting adviser filing requirements under the Investment Advisers Act 1940 as well as the enhanced reporting required of some private fund advisers to file Form PF, private fund advisers must make…
Massachusetts Schedules Public Hearing on Proposed Regulations on Private Fund Managers
Previously, I posted a summary of the status of state investment advisor registration requirements for private fund managers in the Northeast in wake of adoption of the Dodd-Frank Act. Massachusetts currently provides an exemption for investment advisers who only advise sophisticated…
South Dakota Updates Its Policy on Investment Adviser Registration for Private Fund Managers
Recently, I posted a summary of the status of state investment advisor registration requirements for private fund managers in the Northwest including the state of South Dakota. On October 24, 2011, the South Dakota Division of Securities issued a revision…