Why 40Act.com?

40Act.com derives its name from the acts that form the basis of the U.S. investment management and funds industries. The Investment Company Act and the Investment Advisers Act were both enacted in 1940. Their nicknames are the “40 Act” and the “Advisers Act” or together the “40 Acts.” Attorneys and other professionals who work with advisers and funds are said to be “40 Act professionals”, as in “I’m a 40Act lawyer!” We think it’s a great name for our community of 40 Act professionals and hope you join us.

What is 40Act.com?

40Act.com is a community, the foundation of which is a comprehensive set of resources and tools that help 40 Act Professionals to do their important work:

  • A concise treatise and topical discussion of Advisers Act subjects

  • How-to guidance to help you do your legal or compliance tasks

  • Sample forms, contracts, compliance policies and procedures and lots more

  • The laws: the Acts and their rules, all integrated with the treatise and how-to’s

  • Reference: fully integrated library of no-action letters, SEC releases, exemptive orders, etc. all integrated with the treatise and how-to pages

  • Community: the hub of our community where you can interact with other members, find links to government, service provider and other websites and post materials you wish to contribute

What are the advantages of 40Act.com?

When you join, you will find a comprehensive set of materials for legal and compliance professionals. We’ve designed a highly innovative site that is an electronic, web-based service, for today’s generation of lawyers, compliance professionals, auditors, and operations professionals.

  • Comprehensive materials, prepared and curated by 40 Act experts.

  • Targeted to our industry. We focus exclusively on the money management industry.

  • Contrast the large data services which let you hunt and peck and search through their databases trying to find and collect what you need.

  • We’ve done that work for you.

  • Designed for the internet; not based on printed books. Most treatises and law/rules books are exactly that: books—often loose-leaf, requiring periodic updating by hand. When put on the web, the publishers typically present you a pdf version of the book.

  • User friendly Responsive design for access by all of your devices, from PCs to smartphones

  • Pages throughout the site allow for easy navigation between treatise pages, sample compliance procedures, the underlying laws and rules, relevant cases, no-action letters and determinations, How-To guidance and Samples of all sorts.

  • No other site or even book provides this type of ease of use and comprehensiveness

  • We do the updating for you

  • Competitive pricing

  • Low annual subscription fee!

  • Check Amazon.com or Google for competing products:

    • The least expensive treatises in print are $300-$400 and require $400 of updates annually; you’ll need three to four of these treatises to get our coverage and still won’t have the flexibility of our site, nor the How-to guidance and Sample Documents

    • Large data provider services cost from $1000 per year and up. For a small office, that can add up to $6000 for several users

Who’s behind 40Act.com?

40Act.com was founded by a team of industry professionals with a collective 90 years+ of experience. Led by Karl Hartmann, the team has experience in all aspects of the site’s coverage. That experience provides the foundation of understanding the needs of 40 Act practitioners and of curating the materials.

About Karl-Otto Hartmann

  • Industry veteran with over 36 years of legal and compliance experience with all types of investment adviser and fund matters
  • Karl currently serves as Chairman of the Board of Horizons ETF Trust
  • Previously served as Chairman of 15 ETFs for Scottrade and Trustee of a large ($12 billion) bond fund for Wells Fargo
  • Former CEO/President of several mutual funds
  • Former COO of a hedge fund
  • General Counsel and SVP of Fund Administration of JPMorgan's fund operations for 15 years; interim CEO for two years
  • General Counsel and CCO of a large investment adviser for several years
  • Attorney in private practice with two of the largest 40 Act law firms

Karl's Notables:

  1. Helped launch the first U.S. ETF
  2. Developed one of the first automated compliance testing systems
  3. Expert witness in the Morgan Keegan litigation--testified on governance and compliance
  4. Conceived of phone proxy voting procedures and processes
  5. Developed one of the first synthetic foreign currency bond funds
  6. Registered the first insured muncipal bond funds

How will you fit in?

You are joining a community rich with resources. We have done the heavy lifting. As a Member, we hope you will be active by contributing your ideas, suggestions and documents. We will weave your input into the the site. As a result, the site will evolve, expand and stay current.

How easy is it to find what I need?

The site has navigation topically and functionally:

  • Topics—click on the topics that interest you at the top of the page. If you roll over the topics, you’ll see a large drop down list of Subjects, How-To and Reference pages. Just click on those to proceed.

  • Subjects—within each Topic, there’s a comprehensive list of subjects. Importantly, each Subject page is colored green so that you’ll know you are in the Subject (Green) Zone. At the bottom of each Subject discussion there are Reference (Red) and How-To (Blue) Zones, which allow you to jump directly to relevant related materials and documents.

  • How-To—many subjects have associated How-To guidance providing you with instructions, e.g., on how to prepare a document or filing. At the bottom of each How-To page, be sure to look for the associated Subject (Green) and Reference (Red) Zones which allow you to connect directly to relevant Subject or Reference pages.

  • Reference—most Subjects have associated Reference (Red) Zone pages, which list links to relevant laws, rules, no-action letters, interpretive letters, SEC or other agency rulemaking. The Reference or Red Zone is the large database upon which the site is built. It provides you with a comprehensive set of materials and documents for further research and understanding of the subject you’re exploring.

  • Search—finally, don’t forget the Search button located at the top of the homepage!

What does 40Act.com cost?

Memberships cost $995 per year.  Substantial discounts are offered to clients, friends and members of certain organizations.   Please contact us for more information:  karl@40Act.com.

Qualified academics and students may become Free Members upon providing appropriate credentials. Use your .edu email address to register.  

For more information, please contact us at karl@40Act.com.

Want a trial membership?

Please click 5-Day Free Membership Trial and complete the subscription form.  Note:  We only want serious professionals to evaluate the site.   

Why's the trial so short?  In our experience, the sooner you explore the site, the sooner you'll decide to keep the membership.  So sign-up, explore and join us!

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