A legal blog on private funds, startups, and venture capital.
A legal blog on private funds, startups, and venture capital.
This post is the fifth in a series exploring when securities laws impact business transactions. In my previous posts, I provided a general overview of the definition of a “security” under federal securities laws, and covered when various categories of…
This post is the fourth in a series exploring when securities laws impact business transactions. In my previous posts, I provided a general overview of the definition of a “security” under federal securities laws, and covered when various categories of…
On April 26, 2012, the Missouri Commissioner of Securities proposed revised regulations exempting certain private fund managers from investment adviser registration with the State of Missouri. Background Prior to the repeal of the federal 15-client exemption, Missouri had an exemption for…
Previously, I reported that the Massachusetts Securities Division had proposed an exemption from investment adviser registration for advisers to private funds. In late winter, the division adopted these regulations as final (with small changes). They are, more or less, identical…
This post is the third in a series exploring when securities laws impact business transactions. In my previous posts, I provided a general overview of the definition of a “security” under federal securities laws. One of the categories of investments…
