• Current SEC Broker-Dealer Registration Issues Concerning Private Investment Funds
  • April 17, 2013 | Authors: Jessica Forbes; Gregory P. Gnall
  • Law Firm: Fried, Frank, Harris, Shriver & Jacobson LLP - New York Office
  • A recent speech given by David W. Blass, the Chief Counsel of the Division of Trading and Markets at the Securities and Exchange Commission (“SEC”) and enforcement proceedings brought against a finder who was found to be acting as an unregistered broker-dealer and a private fund adviser which engaged him indicate that the SEC has a renewed interest in the way in which private funds, including hedge funds, private equity funds and real estate funds, market and solicit investors for such funds. Therefore, private fund advisers should review their solicitation activities, including the use of finders and internal personnel to market fund interests, to determine whether such activities implicate broker-dealer registration with the SEC.