North Carolina Hedge Fund Law
Starting a hedge fund in North Carolina
The North Carolina Securities Division has a very good website which provides great information for managers based in North Carolina. Unlike many securities divisions, it informs the public when new securities rules are proposed and provides links to the proposed rules. The site also has a very good FAQ [...]
Idaho Hedge Fund Law
Idaho has another well run securities division and their website is particularly helpful. The information below comes from their website and describes the major laws that hedge fund managers in Idaho need to be concerned about. The information is applicable to traditional securities-only hedge fund managers (with regard to investment advisor registration) and also to [...]
SEC Hedge Fund Registration Exemption – Section 203(b)(3) and Rule 203(b)(3)-1
Exemption from the Registration Provisions of the Investment Advisors Act
We have discussed the SEC hedge fund registration exemption many times before, but we have not addressed it directly.For most management companies with a single hedge fund client, registration is actually a relatively easy and straightforward process. Once hedge fund managers are registered as investment advisors [...]
Illinois Hedge Fund Law – Various Laws and Regulations
Perhaps not surprising, Illinois has a very well developed Securities Division website which provides its investment advisors (and potential investment advisors) with many informative articles. In this article we have reprinted three separate resources which we found helpful for potential hedge fund managers located in Illinois.
The first resource provides a basic overview of investment advisors [...]
New Jersey Hedge Fund Law – Investment Advisor Registration Exemption
New Jersey Hedge Fund Managers Generally Exempt From Registration
Hedge fund managers in New Jersey generally do not need to register as investment advisors with the New Jersey Bureau of Securities. New Jersey actually has a de minimis rule which provides that managers, with a place of business in New Jersey, do not need to register [...]
South Carolina Hedge Fund Law – Investment Advisor Registration and Form D Filings
Below we have provided two separate sources from the South Carolina Securities Division Website. First, we have reproduced a very short blurb from their website which explains that investment advisors who have a place of business in South Carolina must generally be registered as an investment advisor. Second, we have reproduced their schedule and instructions [...]
Georgia Hedge Fund Law – Investment Advisor Registration Exemption
Georgia Hedge Fund Managers Generally Exempt From Registration
Below we have provided two separate sources from Georgia’s Securities Division Website. First, we have reproduced their frequently asked questions on investment advisor registration. Specifically it should be noted that Geogia based hedge fund managers do not generally need to register as investment advisors with the state of [...]
Massachusetts Hedge Fund Law – Investment Advisory Registration Renewals
Unfortunately for hedge fund managers who are located in Massachusetts, there is generally a requirement to be registered as an investment advisor with the Massachusetts Securities Division. One of the good things about the Massachusetts Securities Division is that they are generally knowledgeable and the division’s website posts good information for registered investment advisors. The [...]
Exemption From Florida Investment Advisory Registration
Most states do not have securities laws which provide hedge fund managers with an exemption from investment advisor registration at the state level. However, Florida does have an exemption which many Florida based hedge fund managers rely upon in order to avoid registration with the Florida Securities Division.
Specifically, Section 517.021(13)(b) of the Florida laws provide [...]
Florida Hedge Fund Law - Investment Advisor Registration Information
Florida is a very popular jurisdiction for hedge fund formation. Along with New York, Connecticut, California, and Texas, Florida ranks as one of the most popular hedge fund jurisdictions. I have included below a description of the investment advisor provisions from the Florida Securities Division website. One thing to note, as with all Securities Division [...]
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