REGULATION OF INVESTMENT ADVISORS
(LAWA-4080) - 1 UNIT

Familiarity with the Investment Advisors Act of 1940 (the "Advisors Act") is essential not only when counseling investment advisors, but also for structuring and creating various types of privately offered investment vehicles. This course is intended to provide that familiarity and permit students to jump into entry level representation of advisors and fund formation by: presenting an overview of the Advisors Act and its interface with the Securities Act of 1933 (the "33 Act"), the Investment Company Act of 1940 (the "40 Act") and the Employee Retirement Income Security Act of 1974 ("ERISA"), and exposing students to the regulatory framework of the Advisors Act, to key Advisors Act, 40 Act and ERISA definitions and exemptions; describing the Advisors Act registration requirements and exemptive provisions and describing the mechanics of registration; surveying the substantive rules under the Advisors Act; dealing with the preparation, negotiation and review of investment management agreements; and discussing the distinctions among and important factors relevant to the formation of collective investment vehicles, including hedge funds, venture funds and private equity funds. Optional reading will be suggested. Interactivity and questions will be encouraged.

Pass/Fail:
Yes

Prerequisites:
Securities Regulation (LAWA-4005)  (can be taken concurrently)