LexisNexis® Legal Newsroom
Is a Fund Manager an Investment Adviser?

Yes, for private investment funds, the general partner is generally considered an investment adviser under the Investment Adviser Act. Let's start with the definition of an investment adviser from the Investment Advisers Act: "any person who, for compensation, engages in the business...

Yes, the SEC Wants Real Estate Fund Managers to Register

Earlier I had pointed out how a real estate fund manager could be considered an investment adviser and have to register with the SEC under the Investment Advisers Act. In the Proposed Changes to Form ADV published on November 19, the SEC has made it clear that real estate funds are part of the...

Are You an Investment Adviser?

There has been a lot of focus on the effect of Dodd-Frank on private fund managers. Many had relied on the small adviser exception from registration. If you had fewer than 15 clients (funds) you were exempt from regulation. With the loss of that exclusion, the industry has been looking to other...

Real Estate Fund Managers and the CFTC

Many real estate fund managers, used to the lack of regulatory oversight, are wrestling with the implications of Dodd-Frank. One of the biggest sources of hand-wringing is whether to register as an investment adviser given the removal of the 15 clients exemption from the Investment Advisers Act. Another...

SEC Charges California Fund Manager With $60 Million Ponzi Scheme

The Securities and Exchange Commission filed charges against a northern California investment advisor, alleging he operated a Ponzi scheme that took in more than $60 million from investors. John Geringer, 47, along with several entities he operated, was charged with violations of the Securities Act of...

THIS WEEK IN SECURITIES LITIGATION (Week ending June 1, 2012)

SEC enforcement this holiday shortened week dismissed the remaining defendants in an insider trading case centered on an international take over which had been filed largely on the trading and within days of the announcement. The Court cited discovery difficulties which in part traced to the defendants...

Two Actions Against Investment Advisers

The Commission filed two settled administrative proceedings this week against investment advisers. Each centered on the disclosures made to clients. One involved advertisements while the other involved the fees charged. The first named as a respondent BTS Asset Management, Inc., a registered investment...

SEC Continues to Focus on Conflicts by Advisers

Recently Julie M. Rieve, Co-chief, Asset Management delivered remarks titled Conflicts, Conflicts Everywhere to the IA Watch 17 th Annual IA Watch Compliance Watch Conference (Feb. 26, 2015) ( here ). Conflicts are in fact the focus of many of the cases that have recently been brought involving investment...

SEC, Adviser Settle Proceeding Centered on Conflicts

Conflicts of interest and a failure to disclose related party transactions continue to be key themes in Commission actions involving investment advisers. Undisclosed conflicts, as well as a failure to disclose related party transactions, were at the center of a proceeding brought against a registered...