Michael R.Butowsky

Michael Butowsky's practice sits at the intersection of securities regulatory and transactional corporate/securities work. His decades of regulatory work for financial services industry participants, combined with his extensive background in fund formation, securities offerings, and M&A transactions, enable him to effectively address complex matters for clients.

Michael has provided guidance for more than three decades to a broad spectrum of financial services industry participants, including investment advisers, private investment funds, broker-dealers, registered investment companies, and BDCs. Clients turn to Michael for advice on matters such as: investment adviser registrations and ERA filings; compliance matters, including conflicts of interest, custody requirements, performance advertising, trading issues (e.g., principal transactions, trade allocations and sequencing, best execution, and soft dollars), allocations of co-investment opportunities, expense allocation disclosures, insider trading controls, and other compliance policies and procedures; the formation and regulation of private investment funds (such as hedge, private equity, venture capital, and real estate funds) and the drafting of managed account arrangements (including wrap fee programs); affiliated transactions under the Investment Company Act; broker-dealer placement agent and Rule 15a-6 arrangements; acquisitions and dispositions of investment advisers and broker-dealers; investment company, investment adviser, and broker-dealer “status” issues for financial services industry participants and operating companies; and SEC investment adviser examinations (including, advice concerning responses to exam questions and the conduct of the exam).

He also advises institutional investors in connection with their investments in investment vehicles managed by third-party investment managers.

Michael frequently speaks and writes on investment management topics.