Customized Legal and Compliance
Solutions for Investment Advisers
and Other Financial Professionals
and Businesses
Solutions for Investment Advisers
and Other Financial Professionals
and Businesses
RIA Compliance Lawyer
Attorneys Representing Securities Industry Firms and Professionals
Parker MacIntyre is a law firm that focuses on the needs of registered investment advisers. We have represented some of the best-known investment advisers in the country. Many of our experienced attorneys developed skills and specialized knowledge while serving as regulatory counsel and regulators. Others served as compliance officers for national broker dealers and investment advisers to private funds. As a result, our RIA compliance lawyers know the financial services industry from two perspectives: that of the regulator and of the regulated firm. This kind of understanding that only comes from experience is invaluable to us as we advise our clients.
Investment Adviser Formation, Regulation and Compliance
Parker MacIntyre advises start-up and existing investment advisers, including those who must register with the Securities and Exchange Commission (SEC) or with a state regulatory agency. Industry rules often shift, necessitating a comprehensive and up-to-date understanding of federal and state laws and regulations. Our firm can assist with everything from choosing a business structure to developing governing documents, or from constructing a framework compliant with securities laws and regulations to defending against enforcement actions. The SEC regulates investment advisers, mostly through the Investment Advisers Act of 1940 and rules adopted under that law. There are many requirements, but one requirement is that a firm or person that meets the definition of an investment adviser under the Act must register with the SEC unless it is exempt or prohibited from registration. Almost all states have similar requirements under state securities laws, and in addition, require individuals providing investment advice to register. In addition to requirements for advisory firms, both the SEC and the states impose requirements on individual advisers who work for advisory firms. Among those requirements is a broad prohibition against fraudulent conduct, often broadly defined to include not only intentional fraud but also negligent conduct. Some activities are further regulated by the adoption of regulations that must be scrupulously followed.
Private Fund Formation, Regulation and Compliance
Parker MacIntyre provides advice to entrepreneurial or “emerging” investment managers in connection with the structuring, formation and operation of private investment funds or “hedge funds.” These are professionally-managed pooled investment vehicles open only to a select group of high-net-worth individual investors or institutional investors. While often incorrectly characterized as being “unregulated,” private funds are actually subject to numerous laws and regulations. Indeed, the goal of a fund attorney is to properly structure a fund so as to be exempt from these various laws and regulations. This generally entails forming a fund that is not only exempt from registration under federal and state securities laws (i.e., a private placement) but also exempt from mutual fund regulation under the Investment Company Act. Fund managers may also need to register as investment advisers with the SEC or one or more states depending on the fund’s total assets as well as where, geographically, the fund manager’s business office is located.
We at Parker MacIntyre will work with the fund manager to design a fund structure that takes advantage of all available exemptions, thereby decreasing applicable regulation as much as possible. We will also work closely with the fund manager to customize the terms and conditions of a new fund to suit the manager’s—or its client’s—needs. This may entail creating an offshore fund or a “master-feeder” structure. The culmination of a fund formation project will entail delivery by Parker MacIntyre of all necessary fund documentation required for the manager to begin raising capital.
Consult a Skillful RIA Compliance Attorney
The financial services industry has faced sweeping changes in the 21st Century. Various laws and regulations have made compliance with securities laws and regulations more challenging. If you are participating in the financial services industry as a company or individual, you will be confronted by the complicated mandates of overlapping and cumulative laws. It is crucial to seek out dedicated and comprehensive legal advice and representation to avoid running into obstacles in this legal landscape. Contact Parker MacIntyre at (855) 322-2057 or via our online form to discuss your needs.
