kaal:claim:2739479-014

Lifting the ban on general solicitation and general advertising was a significant formal change for private funds, but the new advertising opportunities are being taken up only reluctantly, and uncertainty about investor verification rules together with specific restrictions makes advertising by private fund advisers unlikely for the foreseeable future.

While lifting the ban on GSGA for private fund advisers represented a signif- icant change for the private fund industry, the new advertising opportunities are only reluctantly being accepted;

Wulf A. Kaal, The Post Dodd-Frank Act Evolution of the Private Fund Industry Comparative Evidence from 2012 and 2 (2016), II.2.a) Rule Changes, p. 22
https://ssrn.com/abstract=2739479 · source PDF

Wulf A. Kaal, The Post Dodd-Frank Act Evolution of the Private Fund Industry Comparative Evidence from 2012 and 2 (2016). SSRN: https://ssrn.com/abstract=2739479

• Rule 506(c) offerings after the September 2013 effective date
• private fund and private equity advisers

failuresupport: evidencedfailure: Unused deregulatory optionfamily: incumbent-resistance-to-adoptioncitation-and-knowledge

• restates kaal:claim:2715083-033 The JOBS Act reform underdelivers on its own terms: because investor verification under Rule 506(c) is legally...
• extends kaal:claim:2714974-018 New Rule 506(c) creates uncertainty for hedge fund advisers considering general solicitation and general adver...
• extends kaal:claim:2714974-019 Although the JOBS Act rules freed hedge fund managers to advertise, talk to reporters, and speak at conference...

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