As a private fund manager registering as an investment adviser, you get new limitations on how you market and sell interests in your funds.
It all starts with Section 206 of the Investment Advisers Act:
It shall be unlawful for any investment adviser, by use of the mails or any means or instrumentality of interstate commerce, directly or indirectly–
1. to employ any device, scheme, or artifice to defraud any client or prospective client;
2. to engage in any transaction, practice, or course of… [read post