(Webcast) A New Venture: SEC Registration for Venture Capital Firms

Monday, February 14, 2022 | 12:00 pm – 1:00 pm

Program Co-Chair:
Adam Felsenthal
General Counsel, Great Point Partners LLCProgram Co-Chair:
Scott Gluck
Duane Morris LLP

  • The 2010 Dodd-Frank Act generally required advisers to private equity and hedge funds to register with the SEC, but exempted advisers to venture capital funds from similar regulation regardless of the firm’s size and assets. Recently, many venture capital firms have chosen to voluntarily register with the SEC as an investment adviser, thereby voluntarily subjecting themselves to significant regulation and oversight. Our expert panel will explore this trend as well as the current regulatory environment, including:

    • Why VC firms are voluntarily registering
    • Details on the VC exemption and potential changes to the exemption by the SEC
    • Investor perspectives
    • The regulatory environment and likelihood of additional scrutiny being placed on VC advisers
    • The registration process, and steps venture capital firms and other investment advisers can take to stay ahead of potential regulatory changes
    • Specific issues unique to VC firms when becoming a registered adviser

    Program Fee:
    $49 for Members | $99 for Nonmembers

    Members who are Law Students, Recent Law Graduates, Newly Admitted Lawyers (admitted for the first time in any state or country 2020-2022), In-House/Corporate Counsel, Judges, and attorneys who practice within the Government, Academic or Not-for-Profit sectors attend this program for free.

  • Moderator:

    Alpa U. Patel
    Kirkland & Ellis LLP

    Oded Cedar
    Chief Compliance Officer
    SBLA Advisers Corp. (Softbank Affiliate)

    Lawrence Pace
    Senior Counsel
    Division of Investment Management, SEC

    Robert McGrail
    Head of Legal and Compliance
    DUMAC (Duke Endowment)

    Igor Rozenblit
    Managing Partner, Iron Road Partners
    Former Co-Head, Private Funds Unit
    SEC, Office of Compliance Inspections and Examinations

  • 12:00pm – 12:10pm
    Introduction

    12:10pm – 12:20pm
    History/Regulation Behind VC Exemption and ERA Status

    12:20pm – 12:30pm
    VC Market, Situations VC Firms Register as Full or Exempt Reporting Advisers, and Recent Increase Decisions by VC Firms to Voluntarily Register

    12:30pm – 12:40pm
    Reasons Behind Switch (Investor Demand, Flexibility in Structuring)

    12:40pm – 12:50pm
    Potential Regulatory Changes

    12:50pm – 1:00pm
    Q&A

  • New York: 1.0 Professional Practice
    New Jersey: 1.0 General
    California: 1.0 General
    Pennsylvania: TBD
    Connecticut: Available to Licensed Attorneys

  • Sponsoring Association Committees:
    Compliance, Patrick T. Campbell, Chair

    Sponsorship Opportunities are Available! Please Contact:
    Angie Avila, Manager, Membership Outreach and Sponsorships | (212) 382-6608 | aavila@nycbar.org