Ephraim D. Lemberger

JOBS Act to Eliminate Barriers to Capital Raising by Hedge Funds, Private Equity Funds and Other Private Funds
Ephraim D. Lemberger,Robert G. Leonard,Michael F. Mavrides, April 11, 2012
On April 5, 2012, President Obama signed the Jumpstart Our Business Startups Act (the "JOBS Act") into law. The JOBS Act will have a significant impact on the way that hedge funds, private equity funds and other private funds raise capital by, among other things, eliminating certain...

SEC Amends Definition of Qualified Client
Smriti Kodandapani,Ephraim D. Lemberger,Robert G. Leonard, February 20, 2012
On February 15, 2012, the SEC issued a final rule that amends the definition of qualified client in Rule 205-3 under the Advisers Act. The final rule: (i) codifies the order issued by the SEC on July 12, 2011, that increased the dollar amounts of the asset under management test to $1,000,000 and...

SEC Publishes Final Rule Amending Accredited Investor Standard
Ephraim D. Lemberger, December 29, 2011
On Dec. 21, 2011, the Securities and Exchange Commission published a final rule amending the definition of an “accredited investor” found in Rules 215 and 501 under the Securities Act of 1933. The amendments implement the requirements set forth in Section 413(a) of the Dodd-Frank Act...