Does this underwriting notice at the DTC mean anything?
The Issuers and Barclays Capital Inc. (the “Initial Purchaser”) are putting Participants on notice that they are required to follow these purchase and transfer restrictions with regard to the above-referenced securities. In order to qualify for the exemption provided by Section 3(c)(7)
Understanding 3C7
3C7 is one of two exemptions in the Investment Company Act of 1940 that hedge funds, venture capital funds, and other private equity funds use to avoid SEC restrictions. This frees up these funds to use tools like leverage and derivatives to an extent that most publicly traded funds cannot. That said, 3C7 funds must maintain their compliance to continue enjoying the exemption from the 1940 Act
'To avoid SEC restrictions. This frees up these funds to use tools like leverage and derivatives to an extent that most publicly traded funds cannot.' definitely caught my attention!
But does it mean anything to wrinkle brained apes?
