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    Massachusetts Private Fund Manager / Exempt Reporting Adviser Compliance

    Massachusetts is one of the most aggressive state enforcement programs. FIN Group provides fractional CCO services, Form ADV (Part 1A only for ERAs) filings, annual reviews, and exam support for Private Fund Manager / Exempt Reporting Advisers operating here.

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    Who needs to register in Massachusetts

    Any Private Fund Manager / Exempt Reporting Adviser with a principal place of business in Massachusetts, or with clients located in Massachusetts above the de minimis threshold, must register with the Massachusetts Securities Division or — if eligible — with the SEC.

    Massachusetts-specific nuance

    Massachusetts conducts surprise examinations and requires specific disclosure of conflicts in plain-English supplements to Form ADV Part 2A.

    Regulator: Massachusetts Securities Division

    Annual obligations for Private Funds

    The core federal calendar that applies on top of Massachusetts's requirements:

    • File Form ADV Part 1A within 60 days of crossing $150M AUM threshold for full registration
    • File Form PF for private fund advisers with $150M+ in private fund AUM
    • Comply with the new Private Fund Adviser Rules (quarterly statements, annual audit, fairness opinions)
    • Maintain a written compliance program addressing valuation, allocations, and conflicts
    • Custody Rule (206(4)-2) compliance via qualified custodian and annual surprise audit
    • Investor side-letter tracking and most-favored-nation disclosures

    How FIN Group helps Massachusetts Private Funds

    Fractional CCO

    A named, senior CCO who owns your Form ADV (Part 1A only for ERAs) filings, annual review, and exam response.

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    Compliance Calendar Software

    RegReview tracks every state, federal, and firm-level deadline with automatic reminders.

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    Marketing Compliance Review

    ADScanner reviews every piece of marketing for Rule 206(4)-1 / FINRA 2210 issues in seconds.

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    Investor Onboarding

    InvestPrep handles KYC, AML, and subscription documents end-to-end.

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    Private Fund compliance in other states

    CaliforniaNew YorkTexasFloridaIllinoisPennsylvaniaNew JerseyColoradoWashingtonGeorgiaNorth CarolinaVirginiaArizonaNevadaOregonMichiganOhioMinnesotaConnecticutMarylandMissouriTennesseeUtahWisconsinIndiana

    Also exploring a different registration type? Massachusetts RIA · Massachusetts Broker-Dealer

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