By Bruce Frumerman As published August 6 at FINalternatives. August 6, 2012 Hedge Fund Marketing Implications From New Survey Findings On Investment Beliefs by Bruce Frumerman, Frumerman & Nemeth Inc. The recently published Pensions & Investments/Oxford University survey on long-term investment beliefs has implications for how…
Under current gift tax law, any individual may make a gift of up to $5.12 million this year to the individual’s children, grandchildren and other beneficiaries without paying gift tax. Any gift in excess of that amount is taxed at a historically-low 35%. Unless Congress acts to extend (in whole…
Written by: Jay Gould and Peter Chess In a July 10, 2012, no-action letter[1], available here, issued by a Division of the U.S. Commodity Futures Trading Commission (the “CFTC”) in response to requested relief from certain new CFTC registration obligations, the CFTC granted temporary relief to commodity pool operators (“CPOs”)…
Written by: Jay Gould and Peter Chess On July 1, 2010, the Securities and Exchange Commission (the “SEC”) adopted Rule 206(4)-5 under the Investment Advisers Act of 1940, as amended, which prohibited an investment adviser from providing advisory services for compensation to a government client for two years after the…
Written by: Jay Gould and Peter Chess The Financial Industry Regulatory Authority (“FINRA”) released new guidance last month regarding new FINRA Rule 2111 (the “Suitability Rule”), which requires a broker-dealer to have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is…
Written by: Jay B. Gould The recently enacted JOBS Act[1] requires the Securities and Exchange Commission (“SEC”) to promulgate rules that would effectively repeal the ban on general solicitation and general advertising under Rule 506 of Regulation D by private issuers, including private funds. Pursuant to the JOBS Act, the…
Written by: James Campbell and Sam Pearse And so Greece paid the bond repayments due on Tuesday. Some claim that making such a payment was a no-brainer on the basis that the otherwise ensuing litigation and cross-defaults on other bonds was unthinkable. Other sources claim that the noise coming from…
Written by: Samuel Pearse and James Campbell In the grand scheme of Greece’s debt problems, the sum of approximately €450m may appear modest but tomorrow (15 May) the next repayment of principal is due on foreign law bonds issued by the Hellenic Republic. In a high stakes version of Morton’s…
Written by: Jay B. Gould, Michael Wu and Peter Chess Note: Pillsbury and KPMG, along with the California Hedge Fund Association, will be sponsoring a “Managers Only” event on the JOBS Act and the new world of “general solicitation” for Funds on June 14. The Jumpstart Our Business Startups Act…
We are very pleased to announce that Henry Liu is joining our New York office today as a Finance Partner and as leader of the Financial Institutions & Infrastructure Teams for Greater China and Asia. Henry has enormous reach within business, banking and government in China and is the former…