Placement Agent Law Clean-Up Amendments Introduced

As I mentioned in this March 11 posting, Senator Ed Hernandez has introduced a bill, SB 398, that is intended to clean-up some of the many questions arising under legislation, AB 1743, that was enacted last session. In general, AB 1743 requires placement agents for investment funds and advisers seeking access to CalPERS or other California public retirement systems to register as lobbyists. Numerous interpretational questions have arisen under AB 1743 and CalPERS is trying to address them in SB 398. You can read the most recently amended version of SB 398 here. Remember, the bill is marked to show changes from the prior version of the bill (in this case, the bill as introduced) and not from the existing statutes. The next stop for SB 398 is the Senate Committee on Rules.

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.

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.

© Allen Matkins Leck Gamble Mallory & Natsis LLP | Attorney Advertising

Written by:


Allen Matkins Leck Gamble Mallory & Natsis LLP on:

JD Supra Readers' Choice 2016 Awards
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.