Krus & Michael Koffler
In response to the Congressional directives contained in
Title IV of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the
"Dodd Frank Act"), the U.S. Securities and Exchange...
This post is the first in a series discussing
the issues private fund managers face with state investment adviser
registration requirements and how those requirements interact with federal law.
have written about the obligations of...
With the impending
deadline for filing Form ADV to register as an investment adviser, you need
to jump through some hoops before you can do the filing. First step is visiting
the Investment Adviser Registration
Depository . Form ADV needs to be filed...
The SEC has provided a no action letter in response to an
American Bar Association request on guidance for private fund managers. The ABA
requested clarification that a group of funds could use a singe registration
where the fund managers are in a...
Early versions of Dodd-Frank
had an exemption from registration for private equity fund managers, just as
there is one for venture capital fund managers. Perhaps there is some hope that
the private equity exemption will once again surface?
Just to keep you on your toes if you have less than $150
million under management, states are now filling in the gaps left by
Dodd-Frank. If you are under that threshold, you lose the ability to register
with SEC and now have to look to at being regulated...
Last year, I looked a the top 30 real estate private
equity fund managers to see which are already registered with the SEC. The 2011
version of the PERE 30 just came out, so I decided to look at the list
again. (Disclosure: my company is on the list...
In earlier versions of Dodd-Frank, when it was being
formulated in the House committee, there was an exemption for private equity
fund managers from registration under the Investment Advisers Act. It also had
an exemption for venture capital fund managers...
set a July 21 deadline for changes to the Investment Advisers Act in Title
IV: The Private Fund Investment Advisers Registration Act . This
included the expiration of the private adviser exemption from
registration under the Investment...
From my discussions, many real estate fund managers are
still not sure if they are subject to registration under the Investment
Advisers Act. The definition of "private fund" can exclude many real estate
funds depending on the structure of...
By Dwight Smith
This past Friday, the Federal Reserve Board ("FRB")
proposed a new Regulation OO for the registration of companies that control
registered brokers or dealers as securities holding companies ("SHCs"). Registration...
With a registration deadline of March 30, 2012 and a 45 day period for
the SEC to review the application , private fund managers need to file their
Form ADV by
February 14. I know that there are fund managers still on the fence on whether
With the House of Representatives' change in political
control, the Republicans are taking some steps to cut back on Dodd-Frank .
Earlier this week the House Committee on Financial Services distributed a press
release about five potential bills...