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SEC Sanctions Private Fund Sponsor for Using Unlicensed Broker to Sell Private Fund Interests
29 March 2013
View Client Update
Legal or natural persons receiving transaction-based compensation in connection with marketing private fund interests need to register as brokers under Section 15(a) of the Securities Exchange Act of 1934.
Private fund sponsors should be aware of a marketer's activities and registration status to ensure that both are appropriate in scope.
Private Equity Firms and Funds
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