At the 1932 Democratic National Convention, the live band at one point burst into “Happy Days are Here Again”, FDR’s favorite, drawing raucous cheers from convention delegates. It went on to become the Democratic Party’s...more
Finders play a vital role in introducing startups to potential investors. Yet the general requirement that persons soliciting investors must register with the Securities and Exchange Commission as broker-dealers and be...more
In November 2019, the Securities and Exchange Commission released proposed amendments to Rule 206(4)-1 (Advertising Rule) under the Investment Advisers Act of 1940 (Advisers Act). The Advertising Rule was first adopted in...more
In this issue, we summarize regulatory, litigation and industry developments from October 2019 to early January 2020 impacting the investment management sector, including SEC action on use of derivatives by registered...more
The Securities and Exchange Commission (the “Commission” or the ”SEC”), on November 4, approved the publication of a substantial release (the “Release”) proposing significant amendments to the rules under the Investment...more
The rules and regulations governing private equity and hedge fund advisers continue to develop in response to changes in technology, particularly in the areas of social media and cybersecurity. As a result, advisers become...more
The SEC has proposed new rules that would permit all issuers to solicit investor views about potential offerings at an earlier stage in the offering process than is the case today. ...more
We recently noted a shareholder proponent had been making aggressive use of Notices of Exempt Solicitation on EDGAR. ...more