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 presentation teaches attorneys how to deliver memorized text—especially openings and clos...
Part 1 - This program focuses specifically on cross?examining expert witnesses, whose credentials an...
Synthetic identity fraud creates a significant legal and compliance challenge for professionals by c...
Part 2 dives deeper into advanced cross?examination techniques, teaching attorneys how to maintain c...
Part 1 of 2 - Lawyers at all levels of experience and even sophisticated law firms and general couns...
This attorney-focused program reviews upcoming Nacha rule changes for 2026 with emphasis on legal ob...
This course clarifies the distinction between profit and cash flow from a legal perspective. Attorne...
This CLE program covers the most recent changes affecting IRS information reporting, with emphasis o...
This course breaks down GAAP’s ten foundational principles and explores their compliance impli...
Part II builds on the foundation established in Part I by examining how classical rhetorical styles ...