This article is the third and final part in a series discussing trusts in the context of certain common investor thresholds for investment in private securities. This article will examine trusts as “qualified purchasers” under the Investment Company Act.
What is the Investment Company Act and Why Does It Matter?
The Investment Company Act of
This article is the second of a three-part series discussing trusts in the context of certain common investor thresholds for investment in private securities. This article will examine trusts as “qualified clients” under the Advisers Act.
What is the Advisers Act and Who Does It Affect?
Broadly speaking, the Advisers Act regulates the activities of
Investments in private markets are rapidly becoming an essential part of a well-rounded investment portfolio, especially for ultra-high-net-worth individuals and families. According to Ernst & Young, the assets under management in private markets more than doubled from $9.7 trillion in 2012 to $22.6 trillion in 2022. This growth is projected to continue, with an estimated $72.6 trillion expected to be transferred to heirs by 2045, marking the largest intergenerational wealth transfer in history.
Hedge Clauses and the SEC’s Position
Hedge clauses are provisions in investment advisory agreements that aim to limit an adviser’s liability for certain actions or outcomes. The U.S. Securities and Exchange Commission (the “SEC”) has expressed the position that such clauses can mislead clients into thinking they cannot exercise their legal rights and
SEC Charges Companies for Failing to Timely File Form D in Violation of Regulation D
On December 20, 2024, the U.S. Securities and Exchange Commission (the “SEC”) announced charges against two private companies and one registered investment adviser (the “Parties”). These charges asserted that the Parties violated Rule 503 of Regulation
The Securities and Exchange Commission (the “SEC”) recently adopted Rule 13f-2 and Form SHO under the Securities Exchange Act of 1934 (the “Exchange Act”), implementing provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act. These new regulations are intended to enhance transparency in short selling and introduce significant changes