The Investment Company Act of 1940 potentially imposes significant regulatory burdens on investment funds. To avoid these constraints, most private equity, venture capital, and hedge funds rely on exemptions under either Section 3(c)(1) or Section 3(c)(7). However, a fund utilizing the Section 3(c)(1) exemption may eventually approach its investor limit (100 or 250, depending on the circumstances) while still seeking to accept new investors. Similarly, a Section 3(c)(7) fund may wish to admit investors who do not qualify as "qualified purchasers."
This program will provide an in-depth exploration of the Section 3(c)(1) and 3(c)(7) exemptions, how to count investors under such exemptions, and discuss how fund sponsors can establish parallel funds to accommodate different investor bases while maintaining regulatory compliance. The discussion will also cover key structuring considerations, potential legal pitfalls, and best practices for fund managers.
This program is designed for fund formation attorneys, as well as in-house counsel at asset managers and investment firms.
Many law firms now rely on AI?driven research, drafting, and workflow tools without fully understand...
This CLE program equips attorneys to advise clients on the legal, regulatory, and ethical issues ari...
This program focuses on asylum claims based on sexual orientation, addressing the unique clinical, c...
Join us for Part 2 of a program tailored for attorneys seeking a better understanding of the ongoing...
There are countless trial skill CLEs that will teach you the basics of trial strategies. This CLE is...
During this course, you will learn about best practices and strategies for retaining intellectual pr...
What are the left and rights limits, penalties, and best practices for export controls under Interna...
This course will provide a detailed overview of the Medicare Secondary Payer act as well as provide ...
This course analyzes federal contractor cyber security obligations under the Federal Acquisition Reg...
Effective representation depends on trust, communication, and responsiveness, yet these can break do...