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  • November 6, 2024
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Florida registration of Investment Advisers and Private Funds – Significant Change

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 advisers to private funds

Florida registration of Investment Advisers and Private Funds – Significant Change
By alternative fund pllc

Florida exemption from registration of Investment Advisers and Private Funds - Significant Change

One of the most significant changes, registration of Investment Advisers and Associated Persons A most significant change to the registration requirements is the reduction to six Florida-resident clients in the preceding 12 months as the threshold for investment adviser registration. Chapter 517 previously contained an exemption from registering as an investment adviser if such person had no more than 15 clients in 12 consecutive months. This change brings Florida closer to a majority of states that have reduced their client threshold requirement to register and avoid the definition of an investment adviser to be exempt from the registration requirement.

Some of the most notable changes for private funds located in Florida: • Registration, licensing, and regulatory reform; • Expanded registration exemptions and marketing opportunities for private funds located in Florida; • The New Limited Offering Exemptions; • Testing the Waters — Florida will now allow companies to test the waters before undertaking an offering to determine whether the time, expense, and scope of an offering would be worthwhile.

Alternative Fund, PLLC, boutique legal and business matter law firm alternative to private fund managers across hedge funds, private equity and venture capital firms. C-suite executive and law firm experienced lawyers sets us apart with enterprise-wide business know-how working with conventional to complex private fund manager firms and the spectrum of asset classes. • Contact • If you have any questions, please contact us: www.afundpllc.com +1 917-558-7794 office@afundpllc.com Attorney Advertising— Alternative Fund, PLLC provides this information as a service for educational purposes only. It should not be construed or relied on as legal advice or to create a lawyer-client relationship. Readers should not act upon this information without seeking advice from professional advisers.

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alternative fund pllc

Alternative Fund PLLC, a boutique law firm to private funds and their private fund advisers. Attorneys with more than 25 years of substantial private and public alternative asset management, business, securities law, operations, securities regulations, product fund offering (private placement to IPO), asset manager C-suite business and legal expertise. Deep knowledge of the asset management organization business model as a former managing attorney at a cutting-edge New York City law firm (focus on internet start-ups to IPO practice), General Counsel, Chief Legal Counsel and C-level executive across a well- known international investment banks (BNP Paribas), global alternative asset management firms (Nikko Asset Management), and co-founders of successful emerging hedge fund-private equity fund firms.
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