Law360, New York (September 04, 2007, 12:00 AM ET) -- On August 3, 2007, the Securities and Exchange Commission ("SEC") issued a release setting forth new rule 206(4)-8 under the Investment Advisers Act of 1940 (the "Act").
In general, Rule 206(4)-8 makes it a violation of the Act for the manager of a venture capital or other private equity fund (a "Fund") to make any misleading statement to a current or prospective investor in the Fund, without regard to whether the statement is related to an issuance of Fund securities.
This article briefly describes the new...
SEC's New Rule: Implications For Fund Managers
To view the full article, take a free trial now.
