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On February 9, 2022, the U.S. Securities and Exchange Commission (the "SEC") proposed new rules and amendments to existing rules (the "Proposed Rules") under the U.S. Investment...
SEC proposed new rules and amendments to existing rules under the U.S. Investment Advisers Act of 1940, as amended that would have notable practical implications for private fund advisers, in many cases, regardless of the adviser's registration status.
SEC proposed new rules and amendments to existing rules under the U.S. Investment Advisers Act of 1940, as amended that would have notable practical implications for private fund advisers, in many cases, regardless of the adviser's registration status.
The proposed rule creates new standardized reporting and audit requirements for SEC-registered advisers to private funds and greatly expand SEC-registered adviser disclosure obligations concerning fees, expenses, fund performance and portfolio holdings for the private funds.
The SEC proposed extensive new regulation of private fund advisers under the Adviser's Act. Also, in testimony before the U.S. Senate Committee on Agriculture, Nutrition and Forestry, CFTC Chair Rostin Behnam reviewed the agency's regulatory oversight of digital assets.