Private placement of restricted schemes permits green-channel subscriptions once placement memoranda are formally taken on record. Registered FMEs may launch restricted schemes through private placement by filing a placement memorandum and paying the applicable fee. Green-channel ... Summary
Private placement of restricted schemes permits green-channel subscriptions once placement memoranda are formally taken on record.
Registered FMEs may launch restricted schemes through private placement by filing a placement memorandum and paying the applicable fee. Green-channel filing permits investor subscriptions once the memorandum is taken on record. The memorandum is valid for twelve months, during which the FME must achieve the prescribed minimum corpus and declare first close. Where the corpus is not achieved, successive six-month extensions may be sought while validity continues, subject to prescribed fees. Material changes in memorandum information must be immediately disclosed.
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