Thu, Aug 16, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Other Voices: Not just for banks - changes to Dodd Frank impact private funds

Wednesday, June 13, 2018

by Morrison & Foerster LLP

On May 24, 2018, President Trump signed into law the Economic Growth, Regulatory Relief, and Consumer Protection Act. While much of the Act was designed to provide smaller financial institutions and community banks with relief from regulations implemented under the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, Title V of the Act includes provisions designed to encourage capital formation. Specifically, the Act directs the Securities and Exchange Commission to reform Rule 701 and Regulation A under the Securities Act of 1933. In addition, the Act expands the scope of the blue sky registration exemption by amending Section 18 of the 1933 Act. Finally, the Act expands the exception under Section 3(c)(1) of the Investment Company Act of 1940 for "qualifying venture capital funds," directs the SEC to streamline the offering process for closed-end funds, and expands investor protection to mutual funds domiciled in U.S. territories. These changes are described below.

1933 Act Actions

Rule 701

Rule 701 provides an exemption from the registration requirements of the 1933 Act for offers and sales of securities by private companies pursuant to written compensatory benefit plans or contracts for employees, directors and consultants. Rule 701 requires issuers to deliver a copy of the compensatory benefit plan or the contract to participants before offering and selling the relevant securities. However, if the aggregate sales ......................

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's Italian raid leaves us in the dark[more]

    From Bloomberg: Ten years on from the financial crisis, bank balance sheets haven't become any simpler to digest for the average investor. Finance firms are big and leveraged; regulations have just become new instruments of complexity. That might suggest a potential windfall for any brainy numb

  2. New Launches: Crescent launches offshore cryptocurrency index fund, Jack Ma's private equity firm raises $2.5bn for latest fund, Franklin Templeton floats alternative investment fund, US giant TCW to launch global AI equity fund, Quantum Energy Partners closes latest fund at $5.6bn[more]

    Crescent launches offshore cryptocurrency index fund Crescent Crypto Asset Management, a cryptocurrency index fund manager led by Goldman Sachs alumni, announced the completion of its Series A financing and launch of its offshore Cayman fund. FBG Capital led the fundraising round with its

  3. Michael Spencer invests $40m in Europe-focused hedge fund[more]

    From the FT: Michael Spencer, chief executive of Nex Group, is backing a hedge fund start-up in London with an investment of about $40m made through his private investment group, according to a person familiar with his plans. The hedge fund, Viewforth Partners, is being launched by Richard Black, a

  4. Investing: Investors haven't been this bullish on U.S. stocks since 2015, U.S. hedge funds bet on retail, tech in second-quarter as economy sizzled, The world's largest hedge fund loads up on Alibaba, An $84bn hedge fund used Facebook's struggles to build a massive stake, Jana Partners jumps back into Facebook, adds stakes in Alibaba, Wells Fargo, Einhorn's Greenlight Capital slashes stakes in Apple, Twitter and Micron,Tiger, Tremblant, Columbus went big on Twitter before earnings[more]

    Investors haven't been this bullish on U.S. stocks since 2015 From Bloomberg: The bull run that has taken U.S. equities to record highs this year may be about to reach its peak, according to the latest survey of fund managers by Bank of America Merrill Lynch. Allocations to U.S. stock

  5. Netflix-style algorithms to be used by UBS to suggest investments to clients[more]

    From Cityam: Netflix-style algorithms could soon be widely used to recommend investments after UBS began trialling the artificial intelligence with its clients. UBS confirmed it was in the early stages of applying recommendation algorithms - similar to those used by Netflix and Spotify - to suggest