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SEC expands disclosure demands for investment advisers

Joe Mont | August 25, 2016

The Securities and Exchange Commission will require investment advisers to report additional information it says will provide both it and investors with a better understanding of the risk profile of each adviser and the industry as a whole.

On Thursday, the Commission adopted amendments to several Investment Advisers Act rules and the investment adviser registration and reporting form to enhance the reporting and disclosure of information by investment advisers. 

The approved amendments to Form ADV, according to the SEC, will “improve the depth and quality of information [it collects] on investment advisers, facilitate [its] risk monitoring initiatives and assist staff in its risk-based examination program.

Form ADV is used by investment advisers to register with the Commission and states. In May 2005, the SEC proposed amendments to Part 1A of the forms to embellish what it perceived as data gaps....

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