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Capital Markets Investors Investment Company Act of 1940

Foley Hoag LLP

SEC Updates “Qualifying Venture Capital Fund” Threshold for Section 3(c)(1) Exemption Under the Investment Company Act

Foley Hoag LLP on

The two most common exemptions from registration under the Investment Company Act of 1940 (the “Act”) utilized by private funds are under Section 3(c)(7) and Section 3(c)(1). Funds that do not qualify for an exemption under...more

Latham & Watkins LLP

SEC Adopts Changes to Names Rule for Registered Funds

Latham & Watkins LLP on

The amendments aim to modernize the Names Rule and promote investor protection objectives by ensuring that a fund’s portfolio of holdings aligns with its name. The US Securities and Exchange Commission (the SEC or the...more

King & Spalding

SEC Opens Private Capital Markets to New Investors by Expanding Accredited Investor Definition

King & Spalding on

On August 26, 2020, the Securities and Exchange Commission (SEC) adopted an expanded definition of “accredited investor” in Rule 501(a) under the Securities Act of 1933, as amended (Securities Act). Part of an effort “to...more

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