Opportunity Zone Magazine Volume 1, Issue 3 | Page 78

78 OPPORTUNITY ZONE MAGAZINE | VOLUME 1 • ISSUE 3
THE SECURITIES LAWS
LANDSCAPE FOR OZ FUNDS
AND THEIR MANAGERS
By Christopher Rogers
How to make sure that fund managers comply with security laws and don’t become an unintentional
investment adviser.
The landmark opportunity zone incentive marries
tremendous tax benefits with economic development.
Experienced and first time fund ‘sponsors’ alike are
learning the intricacies of organizing a qualified opportunity
fund (QOF) to gather investments, improve communities,
and hopefully reap the rewards of investing in startups,
growing and established businesses, and real estate-centric
projects. Many have raised capital for other initiatives and
know the definition of ‘accredited investor’ by heart. But
with all of the attention to the Section 1400Z-1 and -2 of the
Internal Revenue Code (OZ Incentive) and several rounds
of Department of Treasury guidance, all QOF sponsors and
managers should reacquaint themselves with the securities
laws. 1
OPPORTUNITYZONE.COM