The Securities and Exchange Commission recently announced that its Small Business Capital Formation Advisory Committee will be meeting later this week on November 13th in an open meeting. The meeting includes a discussion of how venture capital fund managers are raising capital. The Committee will hear from an academic on venture capital fund manager use
Funds
SEC Abandons Review of Vacated Private Fund Adviser Rules
By Anna T. Pinedo & Carlos E. Juarez on
The Securities and Exchange Commission let pass the deadline to seek a review of the decision by the US Court of Appeals for the Fifth Circuit (the “Fifth Circuit”) to vacate the SEC’s final rule relating to private fund advisers (the “Final Rule”). The SEC adopted the Final Rule on August 23, 2023. The Final…
Qualifying Venture Capital Funds Inflation Adjustment
By Anna T. Pinedo on
The Securities and Exchange Commission adopted Rule 3c-7, which adjusts for inflation the dollar threshold used in defining a “qualifying venture capital fund” under the Investment Company Act, as required pursuant to Section 504 of the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018 (“EGRRCPA”). The final rule allows the SEC to adjust…