Comments on: California Investment Advisor Exemption for Certain Hedge Fund Managers http://www.hedgefundlawblog.com/california-investment-advisor-exemption-for-certain-hedge-fund-managers.html Blogging on hedge fund laws, starting a hedge fund, news and events... Thu, 05 Jan 2012 15:32:15 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: California Extends IA Exemption for Hedge Fund Managers — Hedge Fund Law Blog http://www.hedgefundlawblog.com/california-investment-advisor-exemption-for-certain-hedge-fund-managers.html/comment-page-1#comment-6737 California Extends IA Exemption for Hedge Fund Managers — Hedge Fund Law Blog Thu, 21 Jul 2011 23:09:31 +0000 http://www.hedgefundlawblog.com/?p=1302#comment-6737 [...] currently has an exemption from the registration requirements for certain fund managers with more than $25M of AUM (Rule 260.204.9).  Back in March [...] [...] currently has an exemption from the registration requirements for certain fund managers with more than $25M of AUM (Rule 260.204.9).  Back in March [...]

]]> By: California Extends Hedge Fund Registration Exemption — Hedge Fund Law Blog http://www.hedgefundlawblog.com/california-investment-advisor-exemption-for-certain-hedge-fund-managers.html/comment-page-1#comment-6478 California Extends Hedge Fund Registration Exemption — Hedge Fund Law Blog Mon, 20 Jun 2011 17:07:30 +0000 http://www.hedgefundlawblog.com/?p=1302#comment-6478 [...] California Department of Corporations has provided a temporary six-month extension of Section 260.204.9 which exempts hedge fund managers from registration in California if the manager has more than $25M [...] [...] California Department of Corporations has provided a temporary six-month extension of Section 260.204.9 which exempts hedge fund managers from registration in California if the manager has more than $25M [...]

]]> By: California Requests Input on IA Exemption Changes — Hedge Fund Law Blog http://www.hedgefundlawblog.com/california-investment-advisor-exemption-for-certain-hedge-fund-managers.html/comment-page-1#comment-6153 California Requests Input on IA Exemption Changes — Hedge Fund Law Blog Thu, 17 Mar 2011 02:36:26 +0000 http://www.hedgefundlawblog.com/?p=1302#comment-6153 [...] with a place of business in California and more than $25MM of AUM (please see our post on the California IA exemption).  California may, however, increase the asset threshold for the exemption because of the changes [...] [...] with a place of business in California and more than $25MM of AUM (please see our post on the California IA exemption).  California may, however, increase the asset threshold for the exemption because of the changes [...]

]]> By: Important Hedge Fund Articles — Hedge Fund Law Blog http://www.hedgefundlawblog.com/california-investment-advisor-exemption-for-certain-hedge-fund-managers.html/comment-page-1#comment-5235 Important Hedge Fund Articles — Hedge Fund Law Blog Thu, 26 Aug 2010 21:20:10 +0000 http://www.hedgefundlawblog.com/?p=1302#comment-5235 [...] California Exemption [...] [...] California Exemption [...]

]]> By: Craig http://www.hedgefundlawblog.com/california-investment-advisor-exemption-for-certain-hedge-fund-managers.html/comment-page-1#comment-5102 Craig Thu, 12 Aug 2010 20:35:01 +0000 http://www.hedgefundlawblog.com/?p=1302#comment-5102 It is my understanding that in the state of California if I wish to start a hedge fund I need the following: > series 7 and series 66 > file for and get a ADV as a Registered Investments Advisor > customer account agreements outlining fees, structure and all disclosures regarding management and oversight... > have an affiliation with a BD or is there more? Additionally, I've been in the investment business for 25+ years and two years ago let my Connecticut-based BD affiliation lapse because I had moved to California-must I have a California affiliation to manage assets It is my understanding that in the state of California if I wish to start a hedge fund I need the following:
> series 7 and series 66
> file for and get a ADV as a Registered Investments Advisor
> customer account agreements outlining fees, structure and all disclosures regarding management and oversight…
> have an affiliation with a BD
or is there more?
Additionally, I’ve been in the investment business for 25+ years and two years ago let my Connecticut-based BD affiliation lapse because I had moved to California-must I have a California affiliation to manage assets

]]> By: Hedge Fund Lawyer http://www.hedgefundlawblog.com/california-investment-advisor-exemption-for-certain-hedge-fund-managers.html/comment-page-1#comment-4944 Hedge Fund Lawyer Thu, 24 Jun 2010 23:39:35 +0000 http://www.hedgefundlawblog.com/?p=1302#comment-4944 Tony, The manager will need to register as an RIA in California if the manager charges fees to the family and friends. If the manager does not charge any fees or receive any form of compensation for managing the accounts, then the manager will not fall under the definition of "investment adviser" and will thus not be subject to registration. Please note that this is a fact specific inquiry and we are not providing legal advice. Please see our <a href="http://www.hedgefundlawblog.com/disclaimer" rel="nofollow">disclaimer</a>. Regards, Bart Tony,

The manager will need to register as an RIA in California if the manager charges fees to the family and friends. If the manager does not charge any fees or receive any form of compensation for managing the accounts, then the manager will not fall under the definition of “investment adviser” and will thus not be subject to registration.

Please note that this is a fact specific inquiry and we are not providing legal advice. Please see our disclaimer.

Regards,
Bart

]]> By: Tony http://www.hedgefundlawblog.com/california-investment-advisor-exemption-for-certain-hedge-fund-managers.html/comment-page-1#comment-4901 Tony Fri, 18 Jun 2010 16:16:19 +0000 http://www.hedgefundlawblog.com/?p=1302#comment-4901 Does it mean that a new investment manager starting to manage his/her family accounts (fewer than 15 accounts) with total assets under $25 million still need to register as RIA in California? Can he/she be exempted from RIA registration in CA because: a. he/she will only manage less than 15 family & friend investment accounts, and b. he/she is not running a hedge fund? Thanks!! Does it mean that a new investment manager starting to manage his/her family accounts (fewer than 15 accounts) with total assets under $25 million still need to register as RIA in California?
Can he/she be exempted from RIA registration in CA because: a. he/she will only manage less than 15 family & friend investment accounts, and b. he/she is not running a hedge fund? Thanks!!

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