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 examines mitigation strategies for white-collar defendants in the post-Booker sentencin...
This program provides attorneys with a foundational understanding of derivatives and their role in m...
U.S. businesses providing online services that are used by minors face a rapidly evolving patchwork ...
This course analyzes federal contractor obligations under the Trade Agreements Act. Learn how to ens...
This follow?on CLE builds on National Security & Data Privacy: Complying with the Bulk Data...
This program will address the ethical obligations of Lawyer Advocates representing clients in arbitr...
This program explores the impact of complex trauma on criminal defendants through a developmental an...
Workplace investigations are now more complex, high-stakes, and scrutinized than ever before. Employ...
This program provides a comprehensive framework for integrating Borderline Personality Disorder (BPD...
Decentralized Autonomous Organizations (DAOs) and other digital-native structures have moved from ni...