Form ADV Peer Benchmarking: The View You Don’t Get From Your Own Brochure
Why disclosure looks different when viewed across the market Annual Form ADV amendments are in. For most registered advisers, the brochure is updated, the filing is done, and attention has already moved on. But your disclosure hasn’t stopped being read. Somewhere it is already being evaluated against a peer set. […]
What Funds and Other Institutional Investors Need to Know About Section 16 Reporting for Foreign Private Issuers
In December 2025, the Holding Foreign Insiders Accountable Act (HFIAA) was signed into law, subjecting directors and officers of foreign private issuers (FPIs) to the insider reporting requirements under Section 16(a) of the US Securities Exchange Act of 1934 (Exchange Act). For years, directors and officers of FPIs with US-registered […]
Update on California’s Venture Capital Companies Diversity Reporting Program
California’s Fair Investment Practices by Venture Capital Companies Law (FIPVCC), commonly referred to as SB 54, as amended by SB 164, requires certain venture capital companies (including venture capital funds) with a California nexus to register with the Department of Financial Protection and Innovation (DFPI), and to collect and annually […]
Q3 2025 Venture Financing Report – Interview With Mark Spoto
In conjunction with our Q3 2025 Venture Financing Report, we sat down with Mark Spoto of Razor’s Edge to get his take on the state of venture capital investing. Key insights from Mark Spoto On capital concentrating in fewer, later-stage ‘category winners’: The surge in invested capital in Series D […]
Annual SEC Section 13 Filing Requirements for Venture, Private Equity Funds
Venture and private equity funds and other investors that own equity securities of public companies may have numerous Securities and Exchange Commission (SEC) filing requirements – including filings based on the size of the holdings of a particular portfolio company, aggregate holdings of securities across all public portfolio companies, and […]
Regulation S-P Amendments: What ‘Large’ Registered Fund Managers Need to Do by December 3, 2025
The Securities and Exchange Commission (SEC) adopted amendments to Regulation S-P in May 2024, significantly expanding privacy, data security and breach notification obligations for “covered institutions,” which includes SEC-registered investment advisers (RIAs). These changes are particularly time-sensitive for “large” RIAs, defined as those with $1.5 billion or more in assets […]
Q2 2025 Venture Financing Report – Interview With Lily Lyman
In conjunction with our Q2 2025 Venture Financing Report, we sat down with Lily Lyman of Underscore VC to get her take on the state of venture capital investing. Key insights from Lily Lyman On promising workflow automation trends: “The blend between services and software is increasingly merging, as the […]
Private Equity and Venture Capital Investments for 401(k) Plans?
On August 7, President Donald Trump signed an executive order (Democratizing Access to Alternative Assets for 401(k) Investors) that has been widely – and mistakenly – reported to open 401(k) plan assets to “alternative asset” investments, including private equity (PE) and venture capital (VC) vehicles, such that a flood of […]