By: Daniel A. PerryAn Investment Advisor Representative, depending on the state, is a person who 1) makes any recommendations regarding securities, (2) manages accounts of clients, (3) determines which recommendation or advice regarding securities should be provided, (4) solicits or sell investment advisory services, or (5) supervises employees who perform any of the above items.Just […]
By: Daniel A. PerryFortunately, an application for registration is done entirely online which makes registration easier. However, there are still several requirements that you need to complete. The registration is completed online through the Investment Adviser Registration Depository (IARD). Once you have obtained your login for the IARD, you can proceed with registration.Your application for […]
By: Daniel A. Perry An LLC, which stands for limited liability company, is one of the most popular types of business entities because of its ease in formation. In general, the members of an LLC are not held personally liable for the debts and liabilities of the company. An LLC is formed upon filing Articles of […]
By: Daniel A. PerryCommonly, private equity and hedge funds are structured as limited partnerships which are governed by the partnership agreement. A partnership agreement will generally determine the rights, actions, and responsibilities of the general partner and limited partners. One aspect that is currently used in the context of private equity and hedge funds is […]
By: Daniel A. Perry A 3(c)(7) fund applies to a private equity fund in relation to Section (3)(c)(7) of the Investment Company Act of 1940. This specific regulatory act was enacted because of The Stock Market Crash of 1929 and the ensuing Great Depression. It provided numerous safeguards to the investing public. This specific section of […]
By: Daniel A. Perry A Registered Investment Adviser (RIA) is a person or firm which advises individuals and families regarding their investments and manages their portfolios. Depending upon the size of the assets and/or the size of the firm, an RIA will be required to register with the state securities division and/or the Securities and Exchange […]
By: Daniel A. Perry A private equity fund is an investment entity formed by individuals who are interested in raising capital to make investments based on specific investment strategy. This may include individuals wanting to acquire ownership in specific companies as their investment strategy. The fund is owned by accredited investors. An accredited investor is defined […]
By: Daniel A. PerryGenerally, a mid-sized adviser is defined as an investment adviser that has between $25 million and $100 million in assets under management. In addition, mid-sized advisers, like investment advisers and investment adviser representatives, must register with their state securities division in which they conduct business. However, there are circumstances in which a […]
By: Daniel A. PerryIf you are an adviser who registers with the SEC, there are time-sensitive deadlines in which you will need to pay attention. In addition, there are deadlines for state securities division registration that in which you will need to pay attention.An adviser is required to file their annual Form ADV Annual Updating […]
By: Daniel A. Perry “Lawyers are seldom loved but often needed.” This famous quote is as true today as the day it was uttered. I often receive calls from clients about their businesses being sued. Usually, it is regarding a contract dispute. Or a state regulatory agency has fined them for not being registered, not following […]