The document is an investment memorandum for Southern Financial LLC, discussing U.S. federal income tax rules and considerations for Limited Partners in the Access Fund. It highlights the lack of IRS rulings, potential changes in tax consequences, and advises consulting tax advisors. It also covers regulatory matters, including the unregistered offer and sale of Interests under the Securities Act of 1933, reliance on exemptions, and restrictions on transferability. Additionally, it discloses past regulatory issues with Raymond James related to auction rate securities.
documents/vol00010-efta01364729-pdf.pdf
{"key_people":["Raymond James"],"document_type":"financial","key_locations":["Puerto Rico","Virgin Islands","District of Columbia"],"document_subtype":"investment memorandum","key_organizations":["Southern Financial LLC","Raymond James Financial Services, Inc.","Securities and Exchange Commission"],"reference_numbers":["DB-SDNY-0055277","SDNY_GM_00201461","EFTA01364729"]}