Many of our fund manager clients ask us which US regulations apply when they are marketing their funds in the US or raising funds from US investors. We realise that navigating an often complex foreign regulatory regime can be daunting. Therefore our Chicago-based colleague, Ross Goffi, delivered our March briefing on the subject of the US regulations that impact managers and advisers based in Asia. Ross ran through the requirements and answered the questions the audience raised.
Some of the aspects of the US regulatory regime have extra-territorial applicability and potentially trigger registration or exempt reporting requirements for non-US managers/advisers who have or may have US investors, manage fund vehicles established in US or have a physical presence in the US. The US regulatory regime also necessitates careful planning of the marketing and distribution efforts to ensure that relevant private placement exemptions can be relied upon. As such our focus was on the following topics:
- US regulatory review and preview + SEC focus items for 2018
- SEC Investment Adviser registration considerations – requirements, exemptions and registration/reporting process
- Implications of SEC registration/reporting
- Marketing advisory services and funds in the US
- Distribution options in the United States for fund managers
The session was suitable for Asia-based fund managers/advisers who are contemplating fund raising in the US or those who have already registered as investments advisers or exempt reporting advisers and want a recap of the US regulatory regime impacting their business.
To find out more information about any of the topics covered or to request a copy of the slides please get in touch at email@example.com.
Bovill Hong Kong
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