The web is a cut and paste world. Inevitably, someone will steal your blog post content. Rarely is their much you can do about it. Another compliance blog copied my post on Perspectives on Hedge Fund Registration and plopped it into their blog. They were lazy and just copied the html, leaving the picture hotlinked [...]
Archive | May, 2009
New Custody Rules for Investment Advisers
The Securities and Exchange Commission proposed rule amendments as part of their Open Meeting on May 14, 2009. They talked about the proposed rules, but have not actually made them available. It is hard to judge the potential impact of the rules with being able to see them. According to the press release and the [...]
Perspectives on Hedge Fund Registration
On Thursday, May 7, 2009, the House Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises held a hearing on: “Perspectives on Hedge Fund Registration“. During the hearings on legislation to regulate hedge fund advisers, Rep. Paul Kanjorski said that hedge funds deserve to “continue swimming in the deep end of the pool.” But if [...]
Subprime Lending Settlement in Massachusetts
Massachusetts Attorney General Martha Coakley’s Office announced that it has reached a settlement agreement with Goldman Sachs & Co stemming from the office’s investigation of subprime lending and securitization markets. The Attorney General’s Office has been investigating the role of investment banks in the origination and securitization of subprime loans in Massachusetts. The Attorney General’s [...]
Watch Frontline’s “The Madoff Affair” Online
For those of you who missed last night’s airing of “The Madoff Affair” it’s now available online. The program has a startling interview of Michael Bienes, one of the first people to set up a feeder fund for Madoff. Bienes describes those early years as “easy, easy-peasy, like a money machine.” When asked if he [...]
Whether the Advertising or Solicitation Was General in Nature Under Rule 502(c)
Earlier, I posted on Fund Raising Publicity. I ended by pointing out that Rule 502(c) prohibits general solicitation or general advertisement that occurs in connection with a Regulation D securities offering. This is to separate typical company advertising if a company advertises with no intention to “offer or sell the securities of the issuer” then [...]
Advertising or Solicitation to Offer or Sell Securities Under Rule 502(c)
Yesterday, I posted on Fund Raising Publicity. I ended by pointing out that Rule 502(c) prohibits general solicitation or general advertisement that occurs in connection with a Regulation D securities offering. This is to separate typical company advertising if a company advertises with no intention to “offer or sell the securities of the issuer” then [...]
Fund Raising Publicity
Under the U.S. securities laws, it is important for private investment funds to avoid engaging in a “general solicitation” or “general advertising” prior to and during fund raising. The key to private investment funds and the private offering of interests in the funds is that they are “private.” Assuring the private nature of an offering [...]
. . . And Thus Ended Capitalism
Sunday’s Dilbert on financial reports, trusted advisors, and Ponzi schemes.
Facing Conflicts of Interest in Troubled Times
As the recession continues, conflicts and ethics are likely to increase. Morrison & Foerster LLP and The Markkula Center for Applied Ethics put together a webinar: Facing Conflicts of Interest in Troubled Times. These are my notes. James Balassone, Executive in Residence, Markkula Center for Applied Ethics, started by talking about the environment in which [...]
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