Fri, Feb 27, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Other Voices: Last chapter of the JOBS Act rules regarding general solicitation not yet written

Wednesday, November 07, 2012

amb
Jay B. Gould
This article was authored by Jay B. Gould, Partner at San Francisco-based law firm Pillsbury Winthrop Shaw Pittman LLP:

When can private fund managers start posting performance numbers on their websites and sponsoring the Super Bowl? Not yet, according to Senator Carl Levin (D-MI) in letters dated October 5,2012 and October 12, 2012, (the "Levin Letters") rebuking the SEC for having missed the point of the legislation in the SEC rulemaking process. As you recall, on August 29, 2012, the SEC proposed rules pursuant to Section 201 of the Jumpstart our Business Startups Act ("JOBS Act") that, if adopted in final form, would allow private issuers, including private funds, to generally solicit and advertise as long as the investors are all "accredited investors."

Of most importance to hedge fund and private equity fund managers that have been anticipating a more relaxed and flexible approach of communicating with the public and soliciting new investors, the Levin Letters flatly accuse the SEC of failing to grasp the scope of the JOBS Act in applying it to private investment vehicles. According to Lev......................

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. Opalesque Exclusive: Very small CTA averages 6.90% per month since April’14 inception[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: There aren’t many one-man shops around in the hedge fund world but we talked to one. Andrew S. Peskin, who is ba

  2. Opalesque Exclusive: Skënderbeg launches four single-manager funds with Your Wealth AG[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Skënderbeg Funds AGmvK, an investment fund for qualified investors under Liechtenstein law (umbrella fund),

  3. Opalesque Roundtable: Many Swiss investors are questioning the value proposition of hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva: There is a well-known transition among investors in hedge funds between high-net-worth individuals and institutional investors, Ian Hamilton, head of the IDS Group, said during the recent

  4. UCITS HFS Index starts year on positive note with 1.09% gains in January[more]

    Komfie Manalo, Opalesque Asia: The UCITS HFS Index started the year on a positive note gains of 1.09% in January after finishing 2014 with a modest performance of 1.62%. Index provider 2n20 said th

  5. Legal - Case builds against former New York hedge fund ‘Buddy’ Fletcher[more]

    From NYPost.com: Disgraced former hedge fund operator Alphonse “Buddy” Fletcher’s trail of broken promises and red ink just got a little longer. A Manhattan judge has ruled that the 49-year old investor owes his former law firm $2.7 million in unpaid legal bills. Add that to the more than $100