Section 206 of the Investment Advisers Act prohibits fraud, deception or manipulation, regardless of whether the fund manager is registered. Once registered, Rule 206(4)-1 imposes additional restrictions on advertising that the SEC has determined would be fraudulent deceptive or manipulative. So what is an advertisement for purposes of the rule 206(4)-1: “[A]ny notice, circular, letter … Read more »
Tag: Rule 206(4)-1
Marketing Limitations on Private Funds
As a private fund manager registering as an investment adviser, you get new limitations on how you market and sell interests in your funds. It all starts with Section 206 of the Investment Advisers Act: It shall be unlawful for any investment adviser, by use of the mails or any means or instrumentality of interstate … Read more »