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This profile was last updated on 10/25/14  and contains information from public web pages and contributions from the ZoomInfo community.

Mr. Jay B. Gould

Wrong Jay B. Gould?

Partner

Local Address: San Francisco, California, United States
Pillsbury Winthrop Shaw Pittman LLP
1540 Broadway
New York, New York 10036
United States

Company Description: Pillsbury Winthrop LLP is an international law firm with core practice areas in capital markets, real estate, financial services, litigation, intellectual property,...   more
Background

Employment History

Board Memberships and Affiliations

Education

  • law degree
    Catholic University of America
  • bachelor's degree
    University of Washington
  • J.D.
    Columbus School of Law
  • B.A.
    University of Washington
155 Total References
Web References
Join Pillsbury partners Jay ...
www.pillsburylaw.com, 25 Oct 2014 [cached]
Join Pillsbury partners Jay B. Gould, William Sullivan Jr. and Brian E. Finch as they cover sessions on Trends in SEC Enforcement and Cyber Security - Managing Open-Ended Liability.
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Jay B. Gould
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Jay Gould, head of Pillsbury's investment funds & investment management practice and a partner in the firm's corporate and securities practice in San Francisco and New York, cautioned that in light of the recent regulatory focus on attorney practices, investment management chief compliance officers, particularly those at newly created or newly registered shops, should take care that their outside counsel are providing strong and consistent guidance.
"If you're a start-up fund manager and you want to be taken seriously, you really have to show good judgment from the beginning, [which means] demonstrating that you take legal and compliance obligations seriously," said Gould.
According to Gould, remarks by Securities and Exchange Commission Member Kara Stein should drive home to firms and their compliance teams the importance of ensuring they are receiving high quality legal advice.
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Gould explained, "Before PE firms were required to register, many didn't have regulatory counsel, they just had deal counsel.
Jay B. ...
www.pillsburylaw.com, 13 Feb 2014 [cached]
Jay B. Gould
...
Jay Gould, head of Pillsbury's investment funds and investment management team, spoke to StrictlyVC about the pros and cons for venture capitalists interested in advertising.
Some of the downsides of advertising, Gould mentioned, include the possibility of drawing more scrutiny from regulators and investors and the additional paperwork. A firm will have to file a Form D at least 15 days before beginning its general solicitation for the offering and will need to elaborate on which advertising methods it plans to use, he explained. A firm would also need to file offering materials with the SEC prior to handing them out to investors and file a follow-on form once the offering is closed.
Gould added that the solicitation period can also be a little labor-intensive, particularly if it drags on and the firm's performance changes during that time.
For firms interested in the taking advantage of the new rules, Gould noted that the funds that embrace them can post their performance numbers on their websites, or go on television and talk about their funds, without "getting grilled by compliance people. Both could be effective in bolstering a firm's brand and making it faster to raise a fund.
To read the full article, click here: Attorney Jay Gould on the Pros and Cons of a Public Venture Offering
Jay Gould - ...
www.calhedgefund.org, 28 April 2014 [cached]
Jay Gould - Secretary
Mr. Gould practices in the Corporate & Securities area and is leader of Pillsbury's Investment Funds & Investment Management practice team. He counsels clients involved in all aspects of the financial services industry. Mr. Gould represents US registered investment companies, hedge funds, offshore investment companies, investment advisers, retail and institutional broker-dealers, and municipal bond underwriters. Mr. Gould has extensive experience in drafting private placement memoranda, partnership and limited liability company agreements, subscription agreements, registration statements, proxy statements, periodic reports, noaction letters, applications for exemptive relief and other documents for filing with the SEC, the FINRA and other regulatory agencies.
Mr. Gould advises investment companies, investment advisers and broker-dealers on mergers and acquisitions. He also provides counsel on matters involving corporate governance and Sarbanes-Oxley compliance; mortgage securitizations and sales; collateralized debt offers; joint ventures and strategic relations; and retail, institutional and offshore securities distribution strategies and regulatory considerations.
Prior to joining the firm, Mr. Gould served as Chief Counsel for E*TRADE Global Asset Management, Inc., Vice President with TransAmerica Life Companies, Senior Counsel to Bank of America NT&SA, and as an attorney with the Securities and Exchange Commission, White & Case LLP, and two other major international law firms.
Mr. Gould is ranked as a leading lawyer by 2010 Legal 500 US. On behalf of the firm, Mr. Gould accepted a prestigious client service award from HFM Week at the publication's 2009 and 2010 U.S. Service Provider Awards ceremony. Pillsbury was named "Best Onshore Law Firm-Client Service" both years.
Jay ...
www.calhedgefund.org, 28 April 2014 [cached]
Jay Gould
Secretary
Mr. Gould practices in the Corporate & Securities area and is leader of Pillsbury's Investment Funds & Investment Management practice team. He counsels clients involved in all aspects of the financial services industry. Mr. Gould represents US registered investment companies, hedge funds, offshore investment companies, investment advisers, retail and institutional broker-dealers, and municipal bond underwriters. Mr. Gould has extensive experience in drafting private placement memoranda, partnership and limited liability company agreements, subscription agreements, registration statements, proxy statements, periodic reports, noaction letters, applications for exemptive relief and other documents for filing with the SEC, the FINRA and other regulatory agencies.
Mr. Gould advises investment companies, investment advisers and broker-dealers on mergers and acquisitions. He also provides counsel on matters involving corporate governance and Sarbanes-Oxley compliance; mortgage securitizations and sales; collateralized debt offers; joint ventures and strategic relations; and retail, institutional and offshore securities distribution strategies and regulatory considerations.
Prior to joining the firm, Mr. Gould served as Chief Counsel for E*TRADE Global Asset Management, Inc., Vice President with TransAmerica Life Companies, Senior Counsel to Bank of America NT&SA, and as an attorney with the Securities and Exchange Commission, White & Case LLP, and two other major international law firms.
Mr. Gould is ranked as a leading lawyer by 2010 Legal 500 US. On behalf of the firm, Mr. Gould accepted a prestigious client service award from HFM Week at the publication's 2009 and 2010 U.S. Service Provider Awards ceremony. Pillsbury was named "Best Onshore Law Firm-Client Service" both years.
Today's News
www.prnewswire.com, 11 Mar 2004 [cached]
SAN FRANCISCO, March 11 /PRNewswire/ -- A new Securities & Exchange Commission study regarding pricing information related to municipal bonds sounds a wake up call for investors, fund managers, and independent directors to pay close attention to portfolios containing private-activity bonds, says securities and private equity lawyer Jay Gould of White & Case in San Francisco.The SEC report asserts that retail investors pay five times more to buy and sell municipal bonds than stocks because of inadequate price information for the $1.9 trillion U.S. municipal securities market.Today's SEC announcement comes fast in the wake of the IRS launching an investigation into more than 60 issuers of mutual funds that hold private- activity bonds, claiming the bonds do not qualify for tax-exempt status because they do not actually serve a public purpose, says Gould.Some issuers, such as certain hospitals that have come under investigation for being too aggressive in their collections processes, are also finding the tax-exemption of their bonds called into question by state tax authorities."Not only can you not get accurate prices, but there is no market transparency, so buyers and sellers have no idea what each other is doing, hence, no real 'market.' How is a mutual fund supposed to obtain reliable price information on certain bonds for which the IRS is considering disallowing their exemption?Certainly, the mere fact that the IRS is investigating a particular issue would have an effect on its price in an efficient market," says Gould.Given this increased scrutiny by both the SEC and the IRS, Gould says the first thing mutual fund managers should be thinking about is how they can improve their pricing procedures and disclosure policies.At the same time, independent directors need to assess their liability exposure, especially if management itself is confused over both disclosure and exemption requirements."If a mutual fund is holding securities that the adviser is aware are the subject of an IRS inquiry with respect to the tax-exemption claimed by the issuer, it is likely the value of such securities has significantly decreased," says Gould."Mutual fund advisors have a legal and fiduciary obligation to value the securities a fund holds at the current market value.The SEC recently settled an action against a mutual fund's independent directors for not properly supervising how prices of its municipal bonds were determined.Independent directors of municipal bond funds cannot simply rely on the fund's advisor to price portfolio securities, because the determination of fair value is ultimately a board responsibility."Adding to the confusion, Gould says, are recent Administration proposals to expand the use of tax-exempt private-activity bond financing to include private universities, as well as certain residential rental property development, even as the IRS has mounted its challenge to some uses of the private-activity bond exemption.Gould adds that while muni bonds have always been considered less risky than other investment instruments, since the current wave of corporate scandals first broke more than two years ago, the climate has changed immensely.
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