All worked up for nothing…
Over the last year-and-a-half, maybe more, the threat of the enactment of the JOBs Act has had advertising sales folks licking their lips in anticipation of dollars from hedge funds. Well, the law went into effect and guess what? Nothing happened. The billboards in Times Square are still focused on coffee, booze and clothes and the ones outside of both the Holland and Lincoln Tunnels are all about doing AC. So, lots of hubbub, all in ending in a dud. Sure, the there is still time for ads to be bought in time for the Super Bowl, maybe even the World Series — this can only happen if USAA gives […]
Readers, beware:
The hedge fund industry welcomed the news from Washington that the SEC had voted to lift the ban on general solicitations. While the jury is still out on how this will affect the industry and investors, it clear that many service providers – not just lawyers — are chomping at the bit to get their two cents in on the issue. The ink was not even dry on the vote before “Client Alerts” appeared in the inboxes of both existing and would-be hedge fund professionals on what managers should do now that they can advertise. Most of the “Alerts” were not from law firms, but from accountants, public relations firms, […]