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New general solicitation rules impact on private funds

USA - December 23 2013 Beginning September 23, many issuers, including hedge funds, private equity funds and venture capital funds, were permitted to use general…

Eliza Sporn Fromberg

SEC makes fundamental changes to private capital-raising rules

USA - July 15 2013 On July 10, the Securities and Exchange Commission ("SEC" or the "Commission") approved final rules eliminating the decades-old prohibition against…

Eliza Sporn Fromberg, R. Scott Beach, Henry Nelson Massey, Michael T. Rave

Increased SEC focus on broker-dealer registration issues for private fund managers

USA - April 12 2013 The Securities and Exchange Commission (SEC) is cracking down on private fund managers for not using registered broker-dealers for fundraising. At…

R. Scott Beach, Julia M. Boyd, Samuel A. Jennings, Henry Nelson Massey

SEC finds fault with adviser custody practices

USA - March 8 2013 On March 4, the Office of Compliance Inspections and Examinations of the U.S. Securities and Exchange Commission ("SEC") issued a Risk Alert on…

Julia M. Boyd, Samuel A. Jennings, Henry Nelson Massey

CFTC no-action relief for funds-of-funds

USA - December 11 2012 The Commodity Futures Trading Commission (CFTC) recently issued a No-Action Letter that provides relief to advisers to funds-of-funds.

Samuel A. Jennings, Henry Nelson Massey