For 2025, the Securities and Exchange Commission’s Division of Examinations announced its 2025 exam priorities for “registered” investment advisers. Next year’s examinations will prioritize areas such as fiduciary duties and standards of conduct for investment advisers, and cybersecurity, artificial intelligence (AI), and anti-money laundering (AML) for various market participants. In addition to conducting examinations in […]

A new business ownership disclosure rule became effective in 2024 but many do not know about

Effective October 1, 2024, Florida allows for both increased opportunities for Florida-based businesses to raise capital within Florida and strengthened licensing and anti-fraud provisions substantially revising Florida Securities and Investor Protection Act for Florida exemption of investment advisers and its private funds as well as forms and types of private fund offerings for exempt investment […]

Under the prior definition of a QEP, certain persons (including natural persons who are accredited investors, among others) must meet one of two compliance thresholds or a combination of the two in a private fund.  The newly adopted Portfolio Requirement doubles the amounts of the two thresholds: The Securities Test will be set at $4 […]

Relying on our years of pragmatic legal and business fund manager experience and know-how across the fund manager organization enterprise, we have executed a number of viable offshore start-up private fund vehicles for clients seeking to manage fund formation start-up costs and increase the likely-hood of the investment manager’s short term fund formation and long-term […]

CFTC new rule impacting definition of “qualified eligible person” exemption to avoid regulatory review of documents

SEC adopted changes to comply in 2024 aimed at non-registered and registered advisers (IAs) to private funds)