kaal:claim:2811729-016

If a private fund's offering process successfully limits its investors to accredited investors or qualified purchasers, the retail investor protection principles of the Company Act do not apply to the fund's trading, operation, and governance.

Source quote, verbatim

Accordingly, if a private fund's offering process successfully limits its investors to either "accredited investors" or "qualified purchasers," the retail investor protection principles of the Company Act will not apply to the private fund's trading, operation, and governance.

From

Wulf A. Kaal, Unconstrained Mutual Funds and Retail Investor Protection (2016), III.B. Private Fund Regulation, p. 29
https://ssrn.com/abstract=2811729 · source PDF

Cite as

Wulf A. Kaal, Unconstrained Mutual Funds and Retail Investor Protection (2016). SSRN: https://ssrn.com/abstract=2811729

Holds when

private funds relying on Sections 3(c)(1) or 3(c)(7)

Classification

conditionsupport: arguedprivate-funds

Related claims

supports kaal:claim:2715083-012 Hedge fund investors have almost no statutory remedy: the regime establishing a hedge fund investor's rights i...

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