In September 2017, the SEC’s Office of Compliance, Inspections and Examinations issued a Risk Alert making clear that the SEC is paying increased attention to the advertising practices of investment advisers.  The Alert summarizes the most frequent Advertising Rule violations that OCIE comes across in its examinations of investment advisers and evidences a growing concern by the SEC that investment advisers are regularly violating the rule.   /continue reading

In the wake of escalating climate change concerns and the rising demand for local and organically grown food, smaller farm and food ventures are looking to grow. Unfortunately for farmers and other food entrepreneurs, growth requires capital, and the typical forms of debt and equity financing may not be a good match for their businesses. Thankfully, investors and entrepreneurs are turning to more innovative forms of financing.  One example is revenue- or royalty-based financing (“RBF”) — a hybrid of debt and equity financing that can offer the flexibility farm and food ventures need to fuel their businesses.   /continue reading