The SEC’s Division of Enforcement has indicated that one of its focuses for 2018 was on retail investors. This focus has translated into increasing number of cases involving investment advisers. According to the Enforcement Division’s recently published reports, cases involving investment advisers and investment companies were the second largest group of actions in the last…

On July 23, 2018, Delaware amended the Delaware limited liability company act (the “LLC Act”). The two key amendments were to (a) permit a divisive or divisional merger and (b) create provisions related to a registered series. Divide Away! (aka Divisive Mergers) The LLC Act now permits a divisive or divisional merger. Under new Section…

The SEC’s Division of Enforcement has indicated that one of its focuses for 2018 was on retail investors. This focus has translated into increasing number of cases involving investment advisers. According to the Enforcement Division’s recently published reports, cases involving investment advisers and investment companies were the second largest group of actions in the last…

Mark Diamond, Rimon’s International and Financial Services Partner, was named Best Corporate & Securities Lawyer 2019 in the USA by Acquisition International*. Mr. Diamond was also selected as a winner in the category “Private Investment Funds Lawyer of the Year in California”  by Global Law Experts. Read more about Mr. Diamond.   * AI closely monitors all sectors to ensure that the most deserving ones…

Marc Kaufman was chosen as the winner in the category “FinTech Sector IP Lawyer of the Year in Washington D.C.”  Mark Diamond was selected winner in the category “Private Investment Funds Lawyer of the Year in California.” Rimon Law was also named Technology Sector Law Firm of the Year by Corporate INTL in 2016, 2017, and 2018. Marc Kaufman concentrates his practice in the area of…

Initial Coin Offerings (ICOs) are financing mechanisms that have become very popular and controversial. In 2017 alone, ICOs have raised over $1.5 Billion. ICOs are offerings of digital tokens that rely on blockchain technology (similar to Bitcoin). The large majority of ICO investors are private individuals. In the fintech space, ICO funding has surpassed venture…

On July 10, the SEC adopted a new rule lifting the ban on general solicitations and advertising for broker-dealers and for hedge fund and private equity fund offerings. This is a significant change from existing law and allows a fund to make its website more accessible to the public, to use social media, and to…

The Hedge Fund Law Report quoted Rimon’s partner Mark Diamond for his view on the effects of clawback and backtesting in determining gross results for use in performance advertising.  The October 25, 2013 article is entitled “Can Hedge Fund Managers Use Gross (Rather Than Net) Results in Performance Advertising?” Mark Diamond noted that: “The effect…

Investment advisers registered with the U.S. Securities and Exchange Commission (the “SEC”) have certain annual requirements under the U.S. Investment Advisers Act of 1940 (the “Advisers Act”). Some of these requirements may also apply to “exempt reporting advisers” or warrant consideration as best practices. This memo summarizes certain annual regulatory and compliance obligations, including a…