Section 3 C 1 Investment Company Act

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15 U.S. Code § 80a–3

(8 days ago) As used in this section, “ investment securities ” includes all securities except (A) Government securities, (B) securities issued by employees’ securities companies, and (C) securities issued by majority-owned subsidiaries of the owner which (i) are not investment companies, and (ii) are not relying on the exception from the definition of investment company in paragraph (1) or (7) of …

https://www.law.cornell.edu/uscode/text/15/80a-3

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17 CFR § 270.3c-1

(8 days ago) (1) The term Covered Company means a company that is an investment company, a Section 3 (c) (1) Company or a Section 3 (c) (7) Company. (2) The term Section 3 (c) (1) Company means a company that would be an investment company but for the exclusion provided by section 3 (c) (1) of the Act [ 15 U.S.C. 80a-3 (c) (1) ].

https://www.law.cornell.edu/cfr/text/17/270.3c-1

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Section 3(c)(1) Hedge Funds Hedge Fund Law Blog

(7 days ago) A 3 (c) (1) hedge fund is exempt under the Investment Company Act provided that the fund is beneficially owned by not more than 100 investors and is not making a public offering of its securities. The actual text of Section 3 (c) (1) provides:

https://hedgefundlawblog.com/section-3c1-hedge-funds.html

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Section 3(c)(1) of the Investment Company Act now allows

(1 days ago) Section 3 (c) (1) of the Investment Company Act now allows small VC funds to have up to 250 investors Those of you who work with investment funds will agree with me that this news is worth a separate blog posting. The Economic Growth, Regulatory Relief and Consumer Protection Act (the "Act") became law on May 24th, 2018.

http://www.businesslawpost.com/2018/05/section-3c1-of-investment-company-act.html

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Section 3(c)(1) of the Investment Company Act now allows

(5 days ago) This is an important change. For years, in order to be exempt from the provisions of the Investment Company Act, private funds relied on one of two available exemptions: Section 3(c)(1) that allowed only up to 100 “accredited investors” or Section 3(c)(7) that allows for unlimited number of “qualified purchasers”, which is a much

http://hrstory.in/legal-laws/section-3c1-of-the-investment-company-act-now-allows-small-vc-funds-to-have-up-to-250-investors/

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SEC.gov Investment Company Registration and Regulation

(5 days ago) Section 3 (a) (1) (C) of the Investment Company Act defines an investment company as an issuer that is engaged or proposes to engage in the business of investing, reinvesting, owning, holding or trading in securities, and owns or proposes to acquire “investment securities” having a value exceeding 40 percent of the value of its total assets (exclusive of government securities and cash items) on an …

https://www.sec.gov/investment/fast-answers/divisionsinvestmentinvcoreg121504htm.html

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SEC.gov Private Fund Adviser Overview

(4 days ago) Private Fund Adviser Overview Private funds are pooled investment vehicles that are excluded from the definition of investment company under the Investment Company Act of 1940 by section 3 (c) (1) or 3 (c) (7) of that Act. The term private fund generally includes funds commonly known as hedge funds and private equity funds.

https://www.sec.gov/divisions/investment/guidance/private-fund-adviser-resources.htm

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Qualified Purchaser (QP) Practical Law

(9 days ago) However, the term "qualified purchaser" does not include any company that, but for the exceptions provided for in Sections 3(c)(1) or 3(c)(7) of the ICA, would be an investment company (excepted investment company), unless all beneficial owners of its outstanding securities (other than short-term paper), determined in accordance with Section 3(c)(1)(A) of the ICA, that acquired these

https://content.next.westlaw.com/Document/I1c635fcfef2811e28578f7ccc38dcbee/View/FullText.html?contextData=(sc.Default)

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Section 3(c)(1) – Compliance Building

(Just Now) Private investment funds primarily use two exemptions to avoid being defined as an “investment company” under the Investment Company Act of 1940: Section 3 (c) (1) or Section 3 (c) (7).

http://www.compliancebuilding.com/tag/section-3c1/

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Investment Company Act of 1940

(6 days ago) Report on Section 3 (c) (1) of the Investment Company Act of 1940 and Proposals to Create an Exception for Qualified Purchasers Task Force on Hedge Funds of the committee on Federal Regulation of Securities, 51 (3): 773–94 (May 1996)

https://www.americanbar.org/groups/business_law/publications/the_business_lawyer/find_by_subject/buslaw_tbl_mci_ica/

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VENTURE CAPITAL & PRIVATE EQUITY FUNDS

(2 days ago) defines as an investment company. The two exclusions that venture capital funds and private equity funds most often rely upon are Section 3(c)(1) and Section 3(c)(7) of the Investment Company Act (funds relying on Section 3(c)(1) or 3(c)(7) are collectively referred to as “Excluded Investment Companies”). Funds with No More Than 100 Investors

https://www.morganlewis.com/-/media/files/special-topics/vcpefdeskbook/regulation/vcpefdeskbook_securitieslawoverview.ashx

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How to avoid registration under the Investment Company Act

(9 days ago) Section 3 (c) (1) of the act excepts from the definition of investment company “any issuer whose outstanding securities (other than short-term paper) are beneficially owned by not more than 100 person and which is not making and does not presently propose to make a public offering of it securities.”

https://www.fedseclaw.com/2018/03/articles/sec-news/how-to-avoid-registration-under-the-investment-company-act-of-1940/

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Accredited Investor vs Qualified Client vs Qualified

(7 days ago) The reason for this is Section 3(c)1 of the Investment Company Act. Basically, this section says that if there are < 100 investors and the investment is not offered publicly, then there is no need to register under the Act. So it saves money and hassle to …

https://www.whitecoatinvestor.com/accredited-investor-vs-qualified-client-vs-qualified-purchaser/

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Private Equity and Hedge Funds: Regulatory Analysis and

(Just Now) of its holdingsof Company Act Section 3(c)(1) excluded investment companies did not exceed 10 percent of the investingentity’s assets (“Second 10 Percent Test”). If the investingentityfailed this Second 10 Percent Test, one was required to “lookthrough” the entityto itsbeneficial owners, each

https://www.foxrothschild.com/content/uploads/2015/05/e-book-Badway-Horn-McCoy-Private-Equity-and-Hedge-Funds-Regulatory-Analysis-and-Structural-Overview-October-2016.pdf

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3(c)(1) fund definition

(6 days ago) 3 (c) (1) fund means a qualifying private fund that is eligible for the exclusion from the definition of an investment company under the Investment Company Act of 1940 (15 U.S.C. Section 80a-3 (c) (1)). “Private fund adviser” means an investment adviser who provides advice solely to one or more.

https://www.lawinsider.com/dictionary/3c1-fund

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Section 3(c)(1) Hedge Fund Law Blog

(4 days ago) A 3 (c) (1) hedge fund is exempt under the Investment Company Act provided that the fund is beneficially owned by not more than 100 investors and is not making a public offering of its securities. The actual text of Section 3 (c) (1) provides: None of the following persons is an investment company within the meaning of this title: Any issuer

https://hedgefundlawblog.com/tag/section-3c1

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Investment Company Act of 1940

(9 days ago) INVESTMENT COMPANY ACT OF 1940 [A S A MENDED THROUGH P.L. 111-72, APPROVED O CT. 13, 2009] TABLE OF CONTENTS . Sec. 1. Findings and Declaration of Policy.

https://www.db.com/tcr/docs/Investment_Company_Act_1940.pdf

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Investment Company Act of 1940 Securities Lawyer's Deskbook

(5 days ago) Investment Company Act of 1940. Section 22 — Distribution, Redemption, and Repurchase of Securities; Regulations by Securities Associations. Section 29 — Bankruptcy of Face-Amount Certificate Companies amended the Bankruptcy Act and the Bankruptcy Act has since been substantially revised.

https://lawblogs.uc.edu/sld/the-deskbook-table-of-contents/the-securities-acts-statutory-law/the-investment-company-act-of-1940-15-usc-%C2%A7-80a-1-et-seq/

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The Investment Lawyer

(Just Now) is not registered under the Investment Company Act in reliance on Section 3(c)(1) or Section 3(c)(7) thereof), the entire value of the fund is included for purposes of calculating RAUM, regardless of the mix of securities and non-securities held by the fund. While in-depth Investment Company Act analysis

https://www.shearman.com/~/media/Files/NewsInsights/Publications/2017/09/IL_0917_Reiss.pdf

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Qualification Of Investors In A Section 3(c)(1) Hedge Fund

(6 days ago) Section 3 (c) (1) of the Investment Company Act of 1940 provides an exemption from having to register as an investment company under the Act for a hedge fund whose securities are not publicly offered and are owned by not more than 100 persons. Set forth below are the qualification requirements for investors in hedge funds relying on the

https://www.sadis.com/qualification-of-investors-in-a-section-3c1-hedge-fund

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Volcker Rule Prohibition Sponsorship and Investment

(5 days ago) 1940 (1940 Act) but for Section 3(c)(1) or Section 3(c)(7) of the 1940 ActSection 3(c)(1) exempts from the definition of investment company funds whose securities are sold privately to less than 100 purchasers • Section 3(c)(7) exempts from the definition of investment company funds

http://media.mofo.com/files/uploads/Images/140206-Volcker-Rule-Prohibition-Sponsorship-and-Investment.pdf

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SEWARD KISSEL LLP BASIC U.S. REGULATORY REQUIREMENTS

(1 days ago) A. Investment Company Act of 1940 – There are two exceptions that private investment funds may rely upon to avoid investment company status and registration with the Securities and Exchange Commission ("SEC"), Sections 3(c)(1) and 3(c)(7) of the Investment Company Act of 1940.

http://www.sewkis.com/wp-content/uploads/bb451438-df62-48aa-8cb1-4278b84d188d.pdf

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The Investment Lawyer

(8 days ago) Investment Company Act of 1940 Private Funds As noted above, employees may invest in a fund commingled with third-party investors or in an employee-only vehicle. In either scenario, in order for employees to invest in a Private Fund, the appli-cable conditions of Section 3(c)(1) or 3(c)(7) of the Investment Company Act of 1940, as amended

https://www.friedfrank.com/siteFiles/Publications/IL_0814_Selden.pdf

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FDIC Law, Regulations, Related Acts

(8 days ago) (29) The term "private fund" means an issuer that would be an investment company, as defined in section 3 of the Investment Company Act of 1940 (15 U.S.C. 80a-3), but for section 3(c)(1) or 3(c)(7) of that Act. (30) The term "foreign private adviser" means any investment adviser who-- (A) has no place of business in the United States;

https://www.fdic.gov/regulations/laws/rules/8000-7300.html

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Investment Company Act of 1940 Private Funds

(8 days ago) – A company is treated as a single holder, unless: The company holds 10% or more of the voting securities of the fund and is an investment company or itself a 3(c)(1) or 3(c)(7) fund Ownership is then attributed to all the company’s securities holders, who must …

https://www.duanemorris.com/site/static/investment_company_act_of_1940_private_funds.pdf

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Investment Company Act Status of Non-U.S. Issuers

(8 days ago) ance with Section 3(c)(7). The result is a body of law for non-US investment companies that includes restrictions under the Investment Company Act in addition to those imposed by the Securities Act. A widely relied upon Investment Company Act exception is Section 3(c)(7) of that Act. 4 Under Section 3(c)(7), an issuer needs to estab-

https://www.shearman.com/~/media/Files/Old-Site-Files/InvestmentCompanyActStatusofNonUSIssuers_IF_032312.pdf

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Private Investment Companies Under Section 3(c)(1) of the

(7 days ago) Prívate Investment Companies Under Section 3(c)(l) of the Investment Company Act of 1940 By Thomas P. Lemke* and Gerald T. Lins** INTRODUCTION The Investment Company Act of 1940 ("1940 Act")1 regulates pooled invest-ment vehicles, such as mutual funds, closed-end funds, and unit investment trusts.

https://www.jstor.org/stable/40686998

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Crypto Enforcement

(4 days ago) According to the SEC’s order, CAF met the definition of “investment company” under Section 3(a)(1)(C) of the Investment Company Act because it was engaged in the business of investing, holding, and trading certain digital assets that were investment securities (as defined in Section 3(a)(2) of the Company Act), having a value exceeding 40

https://www.omm.com/resources/alerts-and-publications/alerts/crypto-enforcement-sec-announces-first-action-for-investment-company-act-violation/

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POTENTIAL EXEMPTIONS UNDER THE INVESTMENT …

(1 days ago) 1 * * These are alternatives (other than the exemptions available under Section 3(c)(1) and Section 3(c)(7) under the Investment . Company Act) to consider for a collective investment vehicle that may be viewed as or fall within the definition of an “investment company” under the Investment Company Act. An issuer also could apply for an

http://media.mofo.com/files/uploads/Images/140428-Potential-Alternative-Exemptions-1940.pdf

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SEC Adopts Fund of Funds Arrangements Rule Perspectives

(3 days ago) Sections 3(c)(1) and 3(c)(7) also subject private funds to the 3% limitation on investments in registered funds (a “private fund” is an issuer that would be an investment company, as defined in section 3 of the Investment Company Act, but for section 3(c)(1) or 3(c)(7) of such Act). In addition, Section 60 of the Investment Company Act

https://www.mayerbrown.com/en/perspectives-events/publications/2020/10/sec-adopts-fund-of-funds-arrangements-rule

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How to avoid registration under the Investment Company Act

(3 days ago) Under Section 3(a)(1(C) of the act, an issuer may become an investment company if it is engaged, or proposes to engage, in the business of investing, reinvesting, owning, holding or trading in

https://www.lexology.com/library/detail.aspx?g=fe8de47b-ff1b-4b9e-a731-4bab7eb3302d

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3(c)(7) Exemption Definition

(4 days ago) The 3(c)(7) exemption refers to a segment of the Investment Company Act of 1940 that allows private funds to sidestep some SEC regulations. 3C7 is shorthand for the 3(c)(7) exemption.

https://www.investopedia.com/terms/1/3c7.asp

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Investments in other investment companies — Investment

(2 days ago) Section 12 (d) (1) (A) of the 1940 Act places the following limits on investments by investment funds in any registered investment company. Specifically, a fund is prohibited from: acquiring more than 3% of a registered investment company’s shares (the “3% Limit”); investing more than 5% of its assets in a single registered investment

https://www.investmentfundlawblog.com/resources/investments-by-funds/investments-investment-companies/

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CERTIFICATE OF RULE 144A QUALIFIED INSTITUTIONAL …

(4 days ago) from the Investment Company Act pursuant to Section 3 (c) (1) or Section (c) (7) thereof, then its treatment as a Qualified Purchaser has been consented to (in the manner required by Section 2 (a) (51) (c) of the Investment Company Act and rules thereunder) by its beneficial owners who acquired their interest on or before April 30, 1996; and i.

https://www.sumridge.com/wp-content/uploads/2014/07/QIB-Form.pdf

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Private Investment Companies under Section 3(c)(1) of the

(7 days ago) Private Investment Companies Under Section 3(c)(1) of the Investment Company Act of 1940 By Thomas P. Lemke* and Gerald T. Lins** INTRODUCTION The Investment Company Act of 1940 (1940 Act)1 regulates pooled invest- ment vehicles, such as mutual funds, closed-end funds, and unit investment trusts. Given the liquid nature of their assets, investment companies were particularly …

https://heinonline.org/HOL/LandingPage?handle=hein.journals/busl44&div=32

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SEI Global Asset Management Product Guide Private Funds

(1 days ago) A section 3(c)(1) fund may not be beneficially owned by more than 100 shareholders. A section 3(c)(7) fund must be owned by "qualified purchasers." Section 3(c)(7) funds may have more than 100 investors, but typically limit the number of investors to 1,999, so as to avoid registration under the Securities Exchange Act of 1934 (“1934 Act”).

https://seic.com/sites/default/files/SEI_Private_Funds_EU.pdf

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§ 270.3c-1 Definition of beneficial ownership for certain

(9 days ago) (3) The term Section 3(c)(7) Company means a company that would be an investment company but for the exclusion provided by section 3(c)(7) of the Act [15 U.S.C. 80a-3(c)(7)]. (b) For purposes of section 3(c)(1)(A) of the Act [15 U.S.C. 80a-3(c)(1)(A)], beneficial ownership by a Covered Company owning 10 percent or more of the outstanding voting

http://federal.elaws.us/cfr/title17.part270.section270.3c-1

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PLC The US Investment Company Act

(1 days ago) The US Investment Company Act A legal minefield for non-US issuers Jonathan Baird of Freshfields Bruckhaus Deringer and Eric Stuart of Jones Day consider the main issues that arise for non-US listed issuers seeking to rely on the exemption from registration under section 3(c)(7) of the US Investment Company Act. Illustration: Getty Images

https://www.jonesday.com/files/Publication/2e921b9a-6402-4193-a388-fbc785e14545/Presentation/PublicationAttachment/1e89ab2b-a792-4b88-9403-38c7073f24fb/eReadAttachment.pdf

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Mortgage REITs and the Investment Company Act 3(c)(5)(c

(3 days ago) Section 3 (c) (5) (C) of the Investment Company Act of 1940. REITs generally meet the definition of investment company under Section 3 (a) (1) (A)1 and/ or 3 (a) (1) (C)2 of the Act. However, many

https://www.lexology.com/library/detail.aspx?g=1d4702e5-1153-4633-b45b-9a4f978de999

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