The SEC announced yesterday that it will be holding an open meeting on June 22, 2011, evidently to discuss new proposed changes to the new Advisers Act rules pending under Dodd Frank. For fund managers concerned about becoming subjected to Advisers... Read More

This is the second post in a series exploring recent SEC regulations which define the term "venture capital fund" for the purposes of determining whether a fund's manager is exempt from SEC registration requirements under the Dodd-Frank... Read More

As contemplated by the Dodd-Frank Act, advisers that only manage venture capital funds will be exempt from the new registration requirements imposed upon private fund advisers under the Investment Advisers Act of 1940 (the " Advisers Act ")... Read More

This is the first post in a series exploring the recent SEC regulations which define the term "venture capital fund" for the purposes of determining whether a fund's manager is exempt from SEC registration requirements under Dodd-Frank... Read More

Recently, several developments have changed the regulatory landscape. First, beginning March 30, 2012, title IV of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) will eliminate an exemption that many advisers to private... Read More

As a result of the new rules under the Investment Advisers Act of 1940, even fund managers that are exempt from registration will need to file annual reports with the SEC. Exempt reporting advisers (" Exempted Advisers "), including fund... Read More

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. Previously, I have written about the obligations of... Read More

by Cynthia Krus & Michael Koffler I. Introduction 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... Read More

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... Read More

Dodd-Frank 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... Read More

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... Read More

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... Read More

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 to register... Read More

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... Read More

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... Read More