Parker MacIntyre Attorney Tom Zagorsky Presents on Hedge Fund Legal and Regulatory Issues at Georgia State Bar Continuing Legal Education Seminar -- February 2018
Tom Zagorsky, Of Counsel to Parker MacIntyre, presented to a group of licensed attorneys an in-depth introduction to the laws and regulations pertaining to private investment funds in the United States on February 14, 2018. Mr. Zagorsky’s presentation occurred at the State Bar of Georgia headquarters in Downtown Atlanta as part of the State Bar Series of lectures and seminars sponsored by the Institute of Continuing Legal Education (“ICLE”), the not-for-profit educational service of the State Bar of Georgia. The program, entitled Basic Securities Law, included lectures by Mr. Zagorsky and seven other securities lawyers, and touched on topics ranging from federal securities registration and exemptions, to public company securities reporting obligations, as well as the securities implications of emerging crypto-assets. Basic Securities Law, a successful and long-running bi-annual program, was co-sponsored by the State Bar of Georgia Business Law Section, Securities Committee.
Mr. Zagorsky, a former Georgia Assistant Securities Commissioner, has been a frequent lecturer at ICLE-sponsored seminars. This years’ Basic Securities Law marks Mr. Zagorsky’s second appearance at this particular event. Overall, he has delivered presentations at a total of six ICLE seminars, all of which provide continuing legal education credit to licensed Georgia attorneys. He has spoken on a host of securities law matters, from hedge funds and growth company capital raising to the Georgia Securities Act and Georgia-based crowdfunding initiatives.
Today’s Basic Securities Law presentation by Mr. Zagorsky focused on the legal and regulatory issues impacting the formation and management of private investment funds. Private investment funds, which include hedge funds, private equity funds, real estate funds, commodity pools, and the like, remain attractive alternative investment vehicles for high-net-worth investors, and the law surrounding how they are formed and must be operated and governed, is one of continuing interest to the legal community. Mr. Zagorsky’s presentation involved both introductory material as well as an in-depth look at some of the more significant legal issues that an entrepreneurial private fund sponsor will face, including registration issues, eligibility for registration exemptions, and ongoing compliance duties. Specifically, the presentation covered the private offering exemption for funds under the federal Securities Act of 1933 and state securities “Blue Sky” laws, Investment Company Act exemptions typically available to funds, fund manager registration and exemption under the federal Advisers Act and state analogs, as well as legal restrictions placed on fund marketing efforts.
Mr. Zagorsky provides Parker MacIntyre clients with services relating to the creation and operation of private investment funds, including by assisting clients in identifying what type of fund would be appropriate for their objectives, and assuring that compliant legal documentation is created and used in connection with both the solicitation of investments and the ongoing operation of the fund itself. Mr. Zagorsky has formed dozens of private funds over his legal career and has also acted as chief counsel and compliance officer for an Atlanta-based fund sponsor managing over $120 million in fund assets.