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Corporate and Business Law attorneys Greg Kahn and Eliza Sporn Fromberg authored an article titled "The Private Equity Fund Managers' Dilemma: Register as Broker-Dealers or (Potentially) Cease Collecting Fees for 'Investment Banking Activities'?" for the May 23 edition of VC Experts. They discuss comments by the chief counsel of the SEC's Division of Trading and Markets, which suggest "that private fund managers' receipt of transaction fees in connection with the purchase, sale or recapitalization of a portfolio company, if accompanied by a securities issuance, may trigger broker-dealer status questions." Greg and Eliza write that the effect could be greatest for "private equity funds, particularly small funds, and independent sponsors" and urge early review of the issues.
The full article can be found here.
Day Pitney Alert
On January 15, Brian Fischer spoke at "When Good Deals Go Bad – Pitfalls to Avoid During the Sale Process," an Exit Planning Exchange (XPX) program held at The Hartford Club in Hartford, CT.
On January 8, David Waizer gave a presentation, "Starting Your Healthtech Company," to the Biomedical Entrepreneurship Network at Robert Wood Johnson Medical School – Rutgers.
Patricia "Paty" Jimenez has been elected President of the Connecticut Hispanic Bar Association (CHBA).
Day Pitney Press Release
Day Pitney Press Release
Day Pitney Press Release