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Is there any law against setting up a personal investment group?
#78515
11/05/04 07:09 PM
11/05/04 07:09 PM
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Joined: Jul 2001
Posts: 90 Texas
Robert DeNiro
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Joined: Jul 2001
Posts: 90
Texas
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I run a couple of different business that are are successful. I am looking to expand and I thought of setting up an investment company that allows people to invest in my companies thus helping me grow. They would be strictly investing in my companies only.
Are there some sort of laws against setting something like this up?
Fredo, you're my older brother and I love you, but dont ever take sides with anyone against the family again
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Re: Is there any law against setting up a personal investment group?
#78517
11/05/04 09:39 PM
11/05/04 09:39 PM
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Joined: Jul 2001
Posts: 90 Texas
Robert DeNiro
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wow, harsh reply. My call of the election was just a internet posting made by an ordinary person who does not have any major political background much like yourself. It was an opinion and if you're pissed off about the outcome or whatever, you dont need to take it out on me.
The reason I came here first is so that if some ordinary regular folks can tell me its not something that can be done then I dont have to waste a few hundred dollars on an attorney.
So whatever is up your as*, please remove it before replying to one of my posts next time.
Fredo, you're my older brother and I love you, but dont ever take sides with anyone against the family again
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Re: Is there any law against setting up a personal investment group?
#78521
11/05/04 11:00 PM
11/05/04 11:00 PM
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Joined: Mar 2003
Posts: 12,724
Double-J
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Joined: Mar 2003
Posts: 12,724
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Originally posted by Robert DeNiro: I run a couple of different business that are are successful. I am looking to expand and I thought of setting up an investment company that allows people to invest in my companies thus helping me grow. They would be strictly investing in my companies only.
Are there some sort of laws against setting something like this up? I doesn't sound like a monopoly. I don't see why, if you wanted to have some kind of IPO (or some kind of public offering) you couldn't do that...? Then again, I know little of corporate investment laws, you'd be better off consulting someone who is educated in that specific field.
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Re: Is there any law against setting up a personal investment group?
#78522
11/06/04 02:51 AM
11/06/04 02:51 AM
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Joined: Jul 2001
Posts: 31,285 New Jersey, USA
J Geoff
The Don
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The Don
Joined: Jul 2001
Posts: 31,285
New Jersey, USA
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Originally posted by fathersson: don't worry SC I'm done..... I've heard that before, wiseass. Stop it, or take it elsewhere. I'm serious.
I studied Italian for 2 semesters. Not once was a "C" pronounced as a "G", and never was a trailing "I" ignored! And I'm from Jersey! lol Whaddaya want me to do? Whack a guy? Off a guy? Whack off a guy? --Peter Griffin My DVDs | Facebook | Godfather Filming Locations
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Re: Is there any law against setting up a personal investment group?
#78523
11/06/04 07:34 AM
11/06/04 07:34 AM
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Joined: Jun 2004
Posts: 5,602 Yunkai
afsaneh77
Mother of Dragons
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Mother of Dragons
Joined: Jun 2004
Posts: 5,602
Yunkai
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I don't think there are any laws against setting up such a company. But evidently if you are going to set up an investment club you might need to register it with Securities and Exchange Commission. An investment club must register with the SEC as an investment company under the Investment Company Act of 1940 if all of the following three conditions apply: the club invests in securities, The club issues membership interests that are securities, and The club is not able to rely on an exclusion from the definition of investment company. For example, a "private investment company" may not need to register with the SEC. To qualify, an investment club 1-must not make, nor propose to make, a public offering of its securities, and 2-must not have more than 100 members. Source: One way or another you are going to need to talk to an attorney. But following this link might give you some insight about Investment Company Act of 1940 .
"Fire cannot kill a dragon." -Daenerys Targaryen, Game of Thrones
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