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Funds and asset management law in Hawaii covers the regulation and administration of investment funds, pooled investments, and various asset management activities. This field encompasses the creation, maintenance, operation, and dissolution of investment vehicles such as mutual funds, private equity funds, hedge funds, and real estate funds. In Hawaii, as in the rest of the United States, these activities are primarily regulated at the federal level, but there are specific state rules and considerations unique to Hawaii. Legal professionals in this area help clients comply with relevant securities laws, manage investor relations, and protect assets within the boundaries of state and federal regulations.
There are many scenarios where legal advice in funds and asset management becomes essential. Common situations include:
Hawaii adheres to federal securities laws that regulate funds and asset management activity, such as the Securities Act of 1933 and the Investment Company Act of 1940. However, there are additional Hawaii state statutes and rules you need to be aware of:
It is important to consider both federal and state law, as requirements can overlap or impose additional obligations for investment entities and their managers in Hawaii.
Funds and asset management law includes the legal rules and compliance requirements for managing pooled investment funds, financial assets, and the entities that operate them.
Most investment funds must comply with both federal and Hawaii state registration requirements, especially if soliciting investors from Hawaii. Consult a lawyer to determine applicable exemptions.
The Hawaii DCCA Securities Enforcement Branch and federal agencies, such as the SEC, oversee these activities depending on fund size, investor base, and operations.
Investment advisers who manage certain amounts of assets or have Hawaii-based clients typically must register with the state, unless they are exempt or federally covered advisers.
Yes. Hawaii requires certain filings and disclosures in addition to federal compliance, and there may be particular rules regarding investor qualifications and anti-fraud measures.
Disputes may be resolved via negotiation, mediation, arbitration, or litigation. Many fund agreements include specific dispute resolution terms. Legal counsel can help you choose the best approach.
Risks include failure to register properly, misleading investor disclosures, breach of fiduciary duty, and noncompliance with Hawaii-specific rules.
Yes. Real estate funds in Hawaii must comply with both investment and real estate regulations, as zoning and land use laws may restrict certain activities or strategies.
You can search the Hawaii DCCA website or use national databases like the SEC's Investment Adviser Public Disclosure database.
Yes, but they must follow Hawaii’s securities laws and may need to file notice or register with the Hawaii DCCA depending on the offering and investor type.
For additional help and information, consider these organizations and resources:
These entities provide guidance, regulatory forms, and consumer protection resources concerning funds and asset management in Hawaii.
If you need legal assistance related to funds and asset management in Hawaii, start by identifying your specific needs, such as forming a fund, ensuring compliance, or resolving a dispute. Gather relevant documents and information about your investment structure and investor base. Consider scheduling a consultation with a Hawaii-based lawyer specializing in securities, corporate, or asset management law. A qualified legal professional will guide you through the regulatory process, help you avoid common pitfalls, and protect your interests as you launch, manage, or wind down investment entities in Hawaii.
