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.
This program is geared towards lawyers, experts, commercial property owners, and others in the envir...
Philip A. Greenberg, Esq., who has been a litigator in the State and Federal Courts for 52 years, ha...
What are the left and rights limits, penalties, and best practices for export controls under Interna...
This program introduces psychosocial evaluations as a valuable tool in civil litigation, particularl...
U.S. businesses providing online services that are used by minors face a rapidly evolving patchwork ...
There are countless trial skill CLEs that will teach you the basics of trial strategies. This CLE is...
Decentralized Autonomous Organizations (DAOs) and other digital-native structures have moved from ni...
This program provides attorneys with a practical examination of how legal, regulatory, and liability...
Over the past year, the Patent Trial and Appeal Board (PTAB) has undergone a dramatic policy shift r...
Use of artificial intelligence and other automated tools for performance and predictive analytics in...