BRIAN KAPLOWITZ practices in the investment management area. He has worked on a variety of transactions and offerings by mutual funds and closed-end investment companies, and represents independent trustees. Brian spends much of his time consulting on Investment Company Act status questions for numerous types of enterprises, particularly in connection with securities offerings and bank financings. Brian also regularly advises on the applicability of various Investment Company Act exceptions and exemptions relevant to the definition of “covered fund” under the Volcker Rule. In addition, he provides legal advice on registration and compliance issues under the Investment Advisers Act and in the development of various investment programs. He frequently assists financial service firms in structuring products available for purchase by money market funds in compliance with Rule 2a-7 under the Investment Company Act.
Representative types of matters upon which Brian has advised include:
- Representation of mutual funds and investment advisers regarding organization and regulatory compliance
- Representation of independent trustees of a fund organized by a hedge fund manager
- Providing advice to various types of issuers including global holding companies, structured financings and real estate investment trusts concerning their status under the Investment Company Act
- Providing advice to commercial and investment banks concerning the requirements of Rule 2a-7 as applicable to various products, such as paper issued by commercial paper conduits, sold to money fund purchasers
- Providing advice as to covered fund status under the Volcker Rule in connection with securities offerings, repurchase agreements and bank financings
Prior to joining the firm in 1990, Brian was assistant director of the Division of Investment Management of the SEC in charge of Investment Company Act rulemaking. He previously served in several other offices in the Division.
Brian has appeared on several panels relating to legal issues surrounding investment companies and investment advisers and has served on the editorial board of The Investment Lawyer. Brian is recognized in the 2015–2020 editions of The Best Lawyers in America in Mutual Funds Law and has been recognized by Chambers USA in National Investment Funds: Registered Funds.
Brian is a member of the firm’s Committee on Legal Opinions and Audit Letters.
Admissions & Certifications
- District of Columbia
- New York
- Hofstra University School of Law, J.D., 1981 (with high distinction, Hofstra Law Review)
- University at Buffalo, B.S., 1978 (Beta Gamma Sigma)