Tobin & Company Securities LLC (TOBIN), one of the few woman-owned broker-dealers in the United States, assumed the role of Managing Broker-Dealer for Caliber Fixed Income Fund III LP, showcasing its reputation in excellent client service and its commitment to aiding sponsors with rigorous securities regulation in the United States.
Overview of Caliber Fixed Income Fund III LP
Launched by Caliber, a leading financial services company in the alternative asset management space, Caliber Fixed Income Fund III LP aims to provide investors with stable returns through investments in secured debt instruments. These investments focus on commercial real estate assets, offering a diversified approach within the fixed-income sector.
Transition to TOBIN’s Management
In January 2021, TOBIN was selected as the new MBD by Caliber through an extensive RFP process to assume the role of Managing Broker Dealer for the fund. This transition highlighted TOBIN’s capacity for attentive and responsive client service and established a stronger framework for enhancing investor safeguards and securities regulation compliance adherence.
Compliance and SEC Rule 3a4-1
Under TOBIN’s guidance, CFIF III is able to comply with SEC regulations and FINRA oversight, ensuring robust compliance particularly with SEC Rule 3a4-1. TOBIN’s responsibilities include guiding the sponsor and the issuer to align operations and selling activities with FINRA rules and SEC laws. Rule 3a41 is crucial in governing the actions of sponsors and issuers of non-correlated securities assets, ensuring that they operate with a high degree of integrity and transparency. TOBIN’s role involves detailed oversight of all of the offering mechanics of the fund, providing a secure investment environment for investors and the client.
Investor Protection and Due Diligence
TOBIN’s duties extend to comprehensive initial due diligence of the offering, ensuring that all investor communications, including the Private Placement Memorandum (PPM) and associated selling materials, meet stringent regulatory standards. This diligence is part of TOBIN’s commitment to the FINRA’s Reasonable Basis Obligation of Due Diligence, which mandates that all claims and statements made in investment materials are verifiable and substantiated.
High-Touch Client Service
TOBIN’s approach goes beyond mere compliance; it embodies a high-touch service model that involves regular and detailed communication with Caliber. This ensures that any concerns are promptly addressed and that Caliber’s strategies are aligned with legal requirements and investor expectations.
Conclusion
The effective partnership between Caliber Fixed Income Fund III LP and TOBIN as the Managing Broker-Dealer exemplifies TOBIN’s dedication to securities offering excellence and investor protection. By ensuring meticulous attention to compliance, thorough initial and ongoing due diligence, and proactive, continuous communications with the issuer, TOBIN reinforces its role as a pivotal partner capable of navigating the complex regulatory landscapes of the private capital markets. This commitment not only supports Caliber’s objectives but also enhances the overall trust and security for investors involved in the fund and limited partners.
