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 course breaks down GAAP’s ten foundational principles and explores their compliance impli...
This CLE program covers the most recent changes affecting IRS information reporting, with emphasis o...
This presentation examines how “sense memory,” a core acting technique, can help lawyers...
This presentation explores courtroom staging—how movement, spatial awareness, posture, and pre...
This ethics program examines common, but often avoidable, professional responsibility mistakes that ...
This program explores listening as a foundational yet under-taught lawyering skill that directly imp...
This program focuses on overcoming the inner critic—the perfectionist, self?doubting voice tha...
The direct examination presentation outlines how attorneys can elicit truthful, credible testimony w...
This advanced CLE dives into complex GAAP topics relevant to attorneys advising corporate, regulator...
Tailored for attorneys, this training demystifies EBITDA and contrasts it with GAAP- and IFRS-based ...