Illegal Activity
none
Blackmail
none
Date
Unknown
Document Type
legal filing
Model
gemini-2.0-flash-001
Processed
2026-02-07T18:43
Summary
This document is Form ADV Part 2A for iCapital Advisors, LLC, outlining their brokerage practices, account review processes, and client referral/compensation arrangements. It discloses potential conflicts of interest related to their affiliated broker-dealer and the use of soft dollar credits.
Metadata
- Subject
- Form ADV Part 2A
- Sender
- —
- Recipients
- —
- Document ID
- DB-SDNY-0096143
- Date
- —
Relationships 2
| Entity 1 | Relationship | Entity 2 | Description |
|---|---|---|---|
| iCapital Securities, LLC | affiliate | iCapital Advisors, LLC | iCapital Securities, LLC is an affiliate of iCapital Advisors, LLC. |
| iCapital Securities | business | Underlying Fund Manager | Placement fees are paid to iCapital Securities by an Underlying Fund Manager (or its affiliates). |
Notable Quotes 2
In seeking to achieve best execution, iCapital will not be obligated to obtain the lowest commission or best net price for a Private Access Fund in respect of any particular transaction.
A Sub-Adviser may use "soft dollar" credits generated by a Direct Access Fund's securities transactions with broker-dealers to pay for research and execution products or services that fall within the safe harbor created by Section 28(e) of the Securities Exchange Act of 1934.
Red Flags 2
- Potential for conflicts of interest due to the affiliated broker-dealer receiving placement fees.
- Use of soft dollar credits, which can be a source of potential abuse if not properly managed.
Financial Information
Assets:
- Private Access Funds
- Direct Access Funds
- Underlying Funds
Transactions:
- Private placement of interests of the Funds
- Brokerage transactions for a Direct Access Fund
- Payment of placement fees
Public Knowledge
- Context
- Form ADV Part 2A is a disclosure document required by the SEC.
Legal Compliance
- Potential conflicts of interest related to affiliated broker-dealer iCapital Securities, LLC receiving placement fees.
- Compliance with Section 28(e) of the Securities Exchange Act of 1934 regarding soft dollar credits.
Raw Analysis JSON
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Themes
Financial transactions/money flowLegal matters/litigationBusiness dealings
Organizations 4
GLDUS124 BBR PartnersiCapital Advisors, LLCiCapital Securities, LLCUnderlying Fund Manager
Text Analysis
- Tone
- Professional
- Purpose
- To provide information about iCapital's brokerage practices, account review processes, and client referral/compensation arrangements.
- Significance
- This document outlines important aspects of iCapital's operations and disclosures related to potential conflicts of interest.
File Info
- File Name
- EFTA01391297.txt
- Dataset
- dataset_10
- Type
- Text
- Model
- gemini-2.0-flash-001
- Processed
- 2026-02-07T18:43:11.188396
- DOJ Source
- View on DOJ