SEC Adopts Private Fund Advisor Reforms
The SEC has adopted significant rules and amendments under the Investment Advisers Act of 1940 relating to private fund advisers.
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August 24, 2023
Form PF
SEC Adopts Amendments to Form PF
Last month, the SEC adopted amendments to Form PF. These amendments enhance the reporting requirements for certain SEC registered investment advisors that advise private funds. BACKGROUND Form PF is a…
June 8, 2023
SEC Proposes Changes to Custody Rule
In February, the SEC announced a proposal to significantly revise Rule 206(4)-2 (the “Custody Rule”) to help provide additional protections to client assets. Specifically, under the proposal, the Custody Rule…
March 12, 2023
New 2023 SEC Exam Priorities for RIAs
The SEC’s Division of Examinations (the “Division”) announced its 2023 examination priorities earlier this month. These SEC exam priorities are announced each year to help promote and improve compliance and…
February 15, 2023
SEC Proposes Enhanced ESG Disclosure Requirements
The SEC announced earlier this week that it is proposing to amend rules and forms to require registered investment advisers, certain advisers exempt from registration, registered investment companies and business…
May 27, 2022
SEC 2022 Exam Priorities for RIAs
The SEC’s Division of Examinations (the “Division”) announced yesterday its 2022 examination priorities. These SEC exam priorities are announced each year to help promote and improve compliance and protect investors.
March 30, 2022
SEC RISK ALERT – Advisory Fee Calculations
The SEC issued a risk alert yesterday that provided detail on certain compliance issues observed during recent Advisory Fees Initiative examinations, including additional details regarding the observations of the staff…
November 11, 2021
SEC Amends Advertising and Cash Solicitation Rules
The SEC announced today that it is significantly updating and modernizing rules under the Investment Advisers Act of 1940 (“Advisers Act”) relating to advertising and payments to solicitors. The amendments create a single marketing rule that replaces the current advertising and cash solicitation rules.
December 22, 2020
OCIE Issues Risk Alert on Compliance Rule
The SEC issued a risk alert today that provided an overview of notable compliance issues identified by examination staff of OCIE (Office of Compliance Inspections and Examinations) with regard to Rule 206(4)-7 (the “Compliance Rule”) of the Advisers Act.
November 19, 2020
SEC Proposes Significant Amendments to Advertising and Solicitation Rules
The SEC announced yesterday that it voted to propose amendments to update and modernize rules under the Investment Advisers Act of 1940 (“Advisers Act”) relating to advertising and payments to solicitors. Amendments are also proposed to Form ADV, the investment advisor registration form, and the books and records rule to reflect the changes proposed to the advertising and cash solicitation rules.
November 5, 2019