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> the law also exempts some entities from the disclosure requirements, including domestic investment funds that are advised and operated by a registered investm
by DennisP 6y ago
> the law also exempts some entities from the disclosure requirements, including domestic investment funds that are advised and operated by a registered investment adviser. Gascoigne said that exemption was the result of lobbying by the private-equity and hedge-fund sectors.
https://www.washingtonpost.com/us-policy/2020/12/11/anonymous-shell-company-us-ban/ https://www.washingtonpost.com/us-policy/2020/12/11/anonymou...
- coliveira 6y agoIn other words, the law is toothless, you just need to open an illegitimate business that is operated through an investment company.
- JumpCrisscross 6y agoNote that RIAs have to file paperwork with the SEC and are subject to its regulation. I would still prefer they be subject to the law. But it’s night and day from a Nevada LLC, which doesn’t even require ID to form, buying up hundreds of millions of dollars of property.
- DennisP 6y agoOk but if they're not required to submit ownership information for shell companies, it seems the only practical impact is that RIAs get gatekeeper revenue.