SECURITIES AND EXCHANGE BOARD OF INDIA INVESTMENT MANAGEMENT DEPARTMENT
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Absent an exemption, all offers and sales of securities must be registered with the Securities and
Exchange Commission (SEC) under the Securities Act. Because venture capital funds and
private equity funds are offering and selling securities when they seek and accept investors into
their funds, such offers and sales must be registered with the SEC, unless an exemption is
available. Generally, fund managers do not want to register the offers and sales of interests in
their funds. Registration is avoided primarily because of the costs, the public disclosure
obligations, and the ongoing compliance obligations that flow from registration. Fortunately,
there are a number of exemptions available to...
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SECURITIES AND EXCHANGE BOARD OF INDIA INVESTMENT MANAGEMENT DEPARTMENT
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SECURITIES AND EXCHANGE BOARD OF INDIA INVESTMENT MANAGEMENT DEPARTMENT
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