Wednesday, November 09, 2011

Massachusetts Reproposes Private Fund Adviser Exemption

A revised version of a previously proposed private fund adviser exemption was reproposed by the Massachusetts Securities Division, together with revised versions of a previously proposed "institutional buyer" definition and investment adviser discretion and custody requirements. Following a June 23, 2011 hearing on the initial versions of the proposed rule additions/amendments the Commissioner now requests interested persons to submit additional comments on the revised proposals.