The SEC’s Division of Examinations (the “Division”) announced its 2025 exam priorities yesterday. These SEC exam priorities are announced each year to help promote and improve compliance and protect investors.…
The SEC has adopted significant rules and amendments under the Investment Advisers Act of 1940 relating to private fund advisers.
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…
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…
On February 9, 2022, the SEC voted to propose new rules and amendments under the Investment Advisers Act of 1940 (“Advisers Act”) to enhance the regulation of private fund advisors. These rules and changes would significantly increase transparency with regard to these investment advisors.
The SEC yesterday amended the definition of an “Accredited Investor” to allow investors to qualify based on their professional knowledge, experience or certifications, in addition to the existing tests for income and net worth. The amendments also expand the list of entities that may qualify as accredited investors.