Question regarding FINRA, SEC, all that good stuff...
I've noticed that some firms mention their compliance with/membership to these regulatory bodies, while others don't.
How likely is it that "investment management" firms which don't mention this on their site are still members? i.e. they require you to fill a U4?
Was just hoping for some clarity, because I was under the impression that buy-side don't fall under those regulations...
Depends on the AUM. Some firms don't mention it on their website, and instead post a disclaimer in their investor data rooms.
Thanks to Dodd-Frank, firms with $150M+ in AUM fall under their scrutiny. Those below that, and VCs, are exempt.
Hey VanBuren, thanks for the info.
So, VCs of any size are not regulated? Wouldn't they be the same as PEs fundamentally, though? Would it happen to depend on assets, ie would RE PEs be regulated too?
Also, would you happen to know a good way of figuring out how much AUM a firm has - they usually don't disclose on the site. Is that something that could be found on a bloomberg terminal?
Thanks.
You can find AUM on the PitchBook platform, not sure about Bloomberg. Also, you can look up specific fund sizes in the SEC database for those not exempt from their oversight.
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