The Dodd-Frank Wall Street Reform and Consumer Protection Act
("Dodd-Frank") significantly changed the law regarding
required registration as an investment adviser pursuant to the
provisions of the Investment Advisers Act of 1940 (the
"Act"). Because of these significant changes every
family office that provides services falling within the Act's
definition of an "investment adviser" needs to determine
as an urgent matter whether it is required to register as an
investment adviser pursuant to Dodd-Frank. If registration is
required the deadline for becoming registered is March 30,
2012.
Background
Prior to the enactment of Dodd-Frank, there was a so-called
private adviser exemption from the registration requirements of the
Act that was generally available for investment advisers that
had fewer than 15 clients during the preceding 12 months and that
did not hold themselves out to the public as an investment
adviser. ...
Specific Questions relating to this article should be addressed directly to the author.
The question that I most frequently get asked about advisory boards is: "How much equity should I give to a member of my advisory board?" The answer is very little, almost certainly less than the entrepreneur is thinking about. Perhaps some numbers would be useful here.
The White House recently released a new Executive Order imposing sanctions on information technology companies that facilitate certain human rights abuses in Iran and Syria.
On April 5, 2012, President Obama signed into law the Jumpstart Our Business Startups, or "JOBS," Act (H.R. 3606), which is designed to streamline or eliminate the regulatory and legal barriers many emerging companies currently face when attempting to raise capital.
Many corporations and their lawyers assume that both the attorney-client privilege and the work product doctrine will protect communications and documents created during an internal corporate investigation, as long as a lawyer directs and supervises the investigation.
Sweeping new legislation that went into effect in California earlier this year requires qualifying companies to detail and publicly disclose the nature and scope of their corporate compliance efforts to eliminate human trafficking, slavery and child labor from their global supply chains.
As of January 1, 2012, two new subtypes of traditional business corporations may be organized under the California Corporations Code – benefit corporations (§§14600-14631) and flexible purpose corporations (§§2500-3503).
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