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A hearing had been scheduled because the company did not meet the net tangible assets requirement of the index.
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And the large-bank claim that a strict interpretation of the liquid-asset requirement would penalize small banks is the height of hypocrisy.
McDonald's has a similar $500,000 liquid asset requirement, but the company estimates that equipment and preopening costs range from $959,450 to $2,110,700.
"It's true there's no minimum asset requirement, but it's a club," explains Wellner patiently.
The company is a bet that investors who pass the test of accreditation — with an income or liquid asset requirement — but fall below the traditional hedge fund net-worth threshold do in fact want access to hedge funds now and in large amount.
In the latter case, compulsory liability insurance may be inferior to minimum asset requirements.
Steven Shavell, Minimum Asset Requirements and Compulsory Liability Insurance as Solution to the Judgment-Proof Problem, 36 Rand J. Econ.
The basic financial decisions involved include an estimate of future asset requirements and the optimum combination of funds needed to obtain those assets.
If the growth rate exceeds 10 percent a year, asset requirements are likely to exceed internal sources of funds, so plans must be made to finance them by issuing securities.
There are no asset requirements, so firms can list with little or nothing on the balance sheet, there are no revenue requirements, and there is no need to publish audited accounts or even state how many shares are in issue.
Superannuation payments (9.5% of a salary contributed by an employer) have been compulsory since 1992.State pensions are available to Australian residents over the age of 65 (67 by 2023) who have lived in Australia for at least 10 years (with some exceptions such as refugee status) and who meet income and asset requirements.
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CEO of Professional Science Editing for Scientists @ prosciediting.com