There’s a battle going on in Europe over proposed regulatory reforms directed at alternative investments. The EU is two steps ahead of Washington in the financial overhaul process, having released a draft Directive in April, 2009. Sides have been drawn, with some calling the provisions too lenient, and others believing that there are significant downsides to [...]
The SEC has released an interpretative letter indicating that the “cash solicitation rule” contained in Rule 206(4)-3 does not apply to cash payments by a registered investment adviser to a solicitor whose sole function is to solicit clients to invest in a hedge fund. While this position had been widely anticipated in the industry, [...]
Compliance issues related to marketing materials fall into areas:
—you need to know the rules around what you can say — and–
—you need to know the rules around how you can say it.
The “what” is a topic for another day, and there is certainly a lot of noise in that area currently. It’s the [...]
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