Navigating New Private Fund Rules: Key Considerations for Exempt Reporting Advisors

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00:01:58 Accredited investors already can invest in private funds and can negotiate terms.

00:05:49 Investors, leverage, negotiating, impact on emerging managers, side letters.

00:07:02 New manager must track and disclose terms.

00:12:47 Register if providing investment advice for compensation.

00:15:09 New rule applies to registered investment advisors, exempt. Quarterly statements required for fees and expenses.

00:19:48 Investor consent already implied in fund docs.

00:22:54 Borrowing funds between funds with investor consent.

00:28:34 Offering documents must include key economic terms.

00:29:39 Exempt reporting advisors: perceived fewer compliance requirements

00:33:36 Disclose all fees and expenses in documents.

00:38:49 Exempt reporting advisors exempt unless registration necessary.

00:40:12 Exempt reporting advisors may need audits.

00:43:39 Extended compliance deadlines give firms time.

00:46:55 Enjoyed conversation? Like, subscribe, reach out for fund opportunities.

fund classes, Ppm, offering memorandum, addendum, founders class addendum, investors, new rules, exempt reporting advisors, compliance policies and procedures, insider trading rules, front running rules, pay to play rules, registered investment advisors, examination costs and fees, borrowing funds, positive rule, majority consent, fees and expenses, material economic terms, side letters, preferential terms, startup emerging managers, side letter tracking spreadsheet, restricted activities, preferential treatment, quarterly statements, breakdown of fees and expenses, misalignment of time periods, clawback mechanism, closed-ended fund, registration requirements, audit requirement.

Disclaimer-

Alt Funds Network LLC and and its affiliates, episode guests, and the companies they represent do not provide tax, legal or accounting or investment advice. This material has been prepared for informational and educational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal, accounting, and investment professionals before engaging in any transaction or making any financial or legal decision based on your specific situation.