Status of New Fund Manager Regulations


For those of you who are or may be making offerings in California, this is an update on the latest regarding the new California regulations regarding investment advisers. This is important because the California Department of Corporations (DOC) is taking the position that managers of investment funds may be investment advisers. The same issue has or will be arising in other states as well, as they begin adopting the recommendations of the NASAA (North American Securities Administrators Association) regarding investment advisers.

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Published In: Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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