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13 Δεκ 2023 · Learn what the 3 (c) (7) exemption is and how it applies to private investment funds under the Investment Company Act of 1940. Find out the requirements, benefits and risks of claiming this exemption and how it differs from the 3 (c) (1) exemption.
30 Αυγ 2024 · 3C1 is a portion of the Investment Company Act of 1940 that allows private funds with 100 or fewer accredited investors and no IPO plans to avoid SEC registration and reporting. Learn how 3C1 funds differ from 3C7 funds and what compliance challenges they face.
1 Σεπ 1996 · This section defines an investment company as an issuer that engages in securities business or owns investment securities, and lists various exemptions from this definition. The exemptions include issuers with limited number of shareholders, issuers with specific business activities, and issuers with specific ownership structures.
The Investment Company Act also exempts from regulation under the Investment Company Act a number of investment pools and entities. If an issuer falls within one of these exclusions or exemptions, it may not register as an investment company with the Commission.
30 Απρ 2024 · Learn the key differences between the exemptions for private funds offered by Section 3(c)(1) and Section 3(c)(7) of the Investment Company Act.
Common exemptions: Under Section 3 (c) (1), there are only two requirements for a hedge fund: (a) it may not publicly offer its securities, and (2) it can have a maximum of 100 investors in the fund at a given time.
This Practice Note provides an overview of the exceptions and exemptions under the Investment Company Act of 1940 commonly relied on in corporate and finance transactions.
