Mon, Mar 27, 2017
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. Hedge fund liquidations in 2016 surpass 2009 levels, new launches decline[more]

    Benedicte Gravrand, Opalesque Geneva: Even as the hedge fund industry's total assets exceeded the $3tln milestone last year, hedge fund liquidations increased. So much so that 2016 had the highest number of liquidations since 2008, claims the latest HFR Market Microstructure Report, re

  2. Hedge funds find no joy in macro as returns lag Trump rally[more]

    From Gulfnews.com: In 2017, macro hedge funds were expected to shine. So far? Not so much. It's been a far from impressive first two months for funds that trade around macroeconomic events. Discretionary funds rose just 0.3 per cent through February, according to Hedge Fund Research Inc., while the

  3. Strategies - Billionaire investor Marc Lasry shares how he's playing markets right now, Classic models are failing FX hedge funds desperate for return[more]

    Billionaire investor Marc Lasry shares how he's playing markets right now From CNBC.com: Buy on the prospect of deregulation. Sell on the enactment of deregulation. That's the strategy that billionaire investor Marc Lasry is implementing, according to an interview with CNBC in Las Vegas

  4. Opalesque Exclusive: Aberdeen makes the case for the lower mid-market[more]

    Bailey McCann, Opalesque New York: Aberdeen Asset Management has released a new paper focused on lower mid-market private equity. According to the paper, this segment of the private equity market is gaining popularity with private equity investors that are looking for multiple expansion and less

  5. Hedge funds await outcome of French elections, feel pinch on lower oil prices & weak dollar[more]

    Komfie Manalo, Opalesque Asia: Hedge funds felt the pinch of lower oil prices and weak U.S. dollar as the Lyxor Hedge Fund Index was marginally down as of the week ending 14 March, Lyxor Asset Management said in its Weekly Briefing. The Lyxor He