Regulation and Compliance
Sidley advises U.S. and non-U.S. advisers in matters involving the Investment Company Act of 1940, the Commodity Exchange Act, the Investment Advisers Act of 1940, the USA PATRIOT Act and Employee Retirement Income Security Act (ERISA). Non-U.S. adviser clients often request guidance relating to questions involving the extraterritorial scope of the Advisers Act and Commodity Exchange Act.
We counsel investment advisers in all phases of their businesses and on all aspects of organization, registration and compliance, including the Securities Act of 1933, the Sarbanes-Oxley Act of 2002, the Securities Exchange Act of 1934, the Gramm-Leach-Bliley Act and the Commodity Futures Modernization Act of 2000.
We advise unregistered advisory firms with respect to the availability and scope of the exemptions from registration under the Advisers Act, such as those for banks, broker-dealers, accountants and advisers with a limited client base.
Investment Adviser Equity and Debt Offerings
Sidley is particularly positioned to serve as counsel for IPOs by alternative asset managers due to our investment management industry experience and leadership, capital markets presence and public company client service. We advise investment managers on all aspects of such transactions, including issues relating to public company transparency, holding company structure, shareholders and principals, tax and accounting. Sidley represented the underwriters in the IPO of Fortress Investment Group LLC (NYSE:FIG) and represented Citadel in establishing its $2 billion Rule 144A Medium-Term Note program.
