A legal blog on private funds, startups, and venture capital.
Alexander J. Davie
Alexander Davie is a corporate and securities attorney based in Nashville, Tennessee. Businesses of many varieties rely on his counsel and judgment throughout all stages of their growth. In particular, fund managers and investment management professionals seek the expertise Alex gained when he served as general counsel to a private investment fund. Alex also has significant experience and enjoys working with companies and entrepreneurial ventures, especially within the technology industry. As a believer in technology's ability to enrich people's lives and allowing people to connect with each other in new ways, he is passionate about helping tech startups achieve success. He is active in Nashville's startup community as a mentor at the Nashville Entrepreneur Center and participates in numerous other events geared towards making Nashville a nationally ranked location for starting a business.
Passed by Congress on Jan. 1, 2021, as part of the National Defense Authorization Act of 2021, the Corporate Transparency Act (the CTA) requires certain businesses formed in or registered to do business in the United States to report beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN). The CTA requires reporting companies to report to FinCEN the name, date of birth, current address, and unique identifying number (from an acceptable identification document such as a driver’s license or passport) for each applicant and beneficial owner.
On February 9, 2022, the Securities and Exchange Commission (SEC) issued a new proposed rule that would overhaul the cybersecurity regulations for registered investment advisers, registered investment companies, and funds. This post focuses on the provisions that impact private fund advisers.
On February 9, 2022, the Securities and Exchange Commission (SEC) proposed significant changes to, and expansion of, regulations of advisers to private funds. he new proposed rules are the most significant changes to the regulation of private fund advisers since SEC's rules requiring them to register became effective in 2012. This post summarizes the proposal.
Rule 506(b) is the most commonly used securities exemption for private companies. This post compiles some best practices for conducting a 506(b) offering in a bullet-pointed list for easy reference.
Even if a private fund adviser is exempt from registration as an investment adviser, it may be subject to other federal and securities laws. This post summarizes the relevant legal issues.
The venture capital adviser exemption exempts an investment adviser that solely advises venture capital funds from registration with the SEC. This article describes the conditions needed to qualify for the exemption.
For issuers using Rule 506, New York requires Rule 506 issuers to file a state-specific form called “Form 99” with the Investor Protection Bureau before selling its securities to New York investors.
A private equity fund is an investment entity that raises capital from investors to make investments in private companies under a specified investment strategy. This post is an introduction to what you need to know.
