Sec. 48-42-003 - EXCLUSION FOR PRIVATE FUND ADVISERS

§ 48-42-003. EXCLUSION FOR PRIVATE FUND ADVISERS

Subject to the additional requirements of section 004, below, a private fund adviser shall be excluded from the definition of "investment adviser" pursuant to Neb. Rev. Stat. § 8-1101(7)(i) if the private fund adviser satisfies each of the following conditions:

003.01 Neither the private fund adviser nor any of its advisory affiliates are subject to an event that would disqualify an issuer under Rule 506(d)(1) of SEC Regulation P. 17 C.F.R. ^ 230.506(d)(1): and

003.02 The private fund adviser files with the Department each report and amendment thereto that an exempt reporting adviser is required to file with the Securities and Exchange Commission pursuant to SEC Rule 204-4. 17 C.F.R. § 275.204-4.

(Adopted effective May 11, 2016.)

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