b'require complete transparency and public disclosure of the persons involved in management of an issuer. Information about the related persons must bedisclosedforpublicationintheSECsEDGARdatabasethatis searchable by the general public.Additionally, reporting of all persons in management and with over 25% ownership are to be reported the Financial Crimes Enforcement Network (FINCEN), starting January 1, 2024 (see https://www.fincen.gov/boi). Itisimportanttokeepyourassetprotectionentityoutofthe management of a syndicate or fund for that reason, but also in the event you are sued by investors, if you have equity in entities you used in management of a syndicate or fund, they may be at risk of attack, particularly if you do something illegal (like commingle funds or violate securities laws), even if the violation was an innocent mistake.Annual Filing Requirements If an issuer is still raising money more than one year after the start date of its offering (usually stated on the front cover of its private placement memorandum), it may be required to file an amendment to its Form D. The FormDamendmentmustbefiledpriortotheanniversarydate.The amendment may ask for additional information, such as what states the issuer raised money from and how much has been raised to date.Certainstates(California,forexample)mayrequirenewBlueSky filings, even in states where the Blue Sky notices were previously filed, for any new investors from that state that invest after the anniversary of the offering. This is less likely to occur in a syndicate that is buying a specific 90'