Updates on Regulation, Trading, and Market Reforms for the Alternative Investment Community

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SEC adopts amendments to the “accredited investor” definition

Today, the Securities and Exchange Commission adopted amendments to the “accredited investor” definition in Rule 501(a).  These are: adding a new category that permits natural persons to qualify as accredited investors based upon certain professional certifications, designations or credentials or other credentials issued by an accredited educational institutions which the Commission...

Real Estate Private Equity Adviser Settles with SEC over Misallocation of Expenses

On August 7, 2020, the SEC issued a Cease-and-Desist Order and imposed sanctions against Rialto Capital Management, LLC (“Rialto”) for violations of the Advisers Act arising out of Rialto’s misallocation of expenses. Rialto serves as the investment adviser to several private funds, as well as two co-investment vehicles.  The limited partnership agreements for each of the Fund...

Updates on Regulation, Trading, and Market Reforms for the Alternative Investment Community