The document discusses legal and regulatory considerations for the Secondary Opportunities Fund III, LP, particularly focusing on compliance with the Bank Holding Company Act (BHC Act) and the Volcker Rule, which may affect investors like Deutsche Bank. It also covers the Manager's registration as an investment adviser under the US Investment Advisers Act of 1940 and its claim for no-action relief under the US Commodity Exchange Act of 1936. The document outlines potential exemptions from registration requirements with the CFTC for the Manager and the Fund.
documents/EFTA01452015.pdf
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