Tue, Sep 16, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

US JOBS Act impacts on hedge fund and other alternatives offerings

Thursday, April 12, 2012

Beverly Chandler, Opalesque London: Law firm Dechert’s Financial Services Group has commented on the practical implications for offerings of hedge funds and private equity funds since President Obama signed into law the Jumpstart Our Business Startups Act, JOBS Act, on April 5th 2012.

In their Legal Update, Dechert found that the amendments to the Securities Act and the required revisions to Rule 506, contained in or directed by the JOBS Act, should allow sponsors of a private fund to reach out to potential investors through general solicitations and advertising without jeopardizing the fund’s ability to rely on Sections 3(c)(1) or 3(c)(7) of the Investment Company Act and Rule 506 of Regulation D as a safe harbor under Section 4(2) of the Securities Act, respectively, to avoid registration of the fund and its securities.

However, the firm says that until the amendments to Rule 506 are finalized following SEC rulemaking, private fund sponsors and placement agents should continue to follow their current practices, policies and procedures for their private offerings.

Dechert says: "In addition, it should be noted that, since the JOBS Act does not state that Section 4(2) itself is amended by the JOBS Act, issuers relying on the provisi......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Big hedge funds show interest in Alibaba, Maglan joins other hedge funds in rush to Argentinian assets[more]

    Big hedge funds show interest in Alibaba From Hereisthecity.com: …Three other major hedge fund investors who have shown interest in the IPO are Dan Loeb of Third Point, David Tepper of Appaloosa Management and Dan Benton of Andor Capital Management. All three were among the roughly 800 p

  2. Investors looking at other sources for hedge fund-like returns[more]

    Komfie Manalo, Opalesque Asia: Investors who are always on the lookout for higher gains are looking at alternative sources of income, particularly exchange-traded fund industry that generates hedge fund-like returns, according to

  3. SEC charges Minnesota hedge fund manager with fraud[more]

    Bailey McCann, Opalesque New York: The SEC has brought charges against Minneapolis-based hedge fund manager, Steven R. Markusen for bilking investors out of fees and portfolio pumping. According to the complaint, the management fees earned by Archer Advisors LLC were shrinking due to the funds’ w

  4. …And Finally – Immature[more]

    From Newsoftheweird.com: Princeton University professor John Mulvey, 67 (who teaches financial engineering applications), was charged in July with stealing 21 yard signs around the town of Princeton -- signs for a computer repair business owned by a man with whom he was feuding. Nathan McCoy,

  5. Investors move capital out of Scotland ahead of referendum[more]

    Benedicte Gravrand, Opalesque Geneva: Ahead of Scotland’s independence referendum on September 18, asset managers, investors and pension savers are moving billions of pounds out of the country,