New SEC rules for private fund advisers will keep compliance teams busy
By 
Aaron Nicodemus2023-08-28T13:44:00
Compliance teams at private funds should start analyzing the impact of new rules from the Securities and Exchange Commission (SEC) now, experts said, even though compliance dates are a year to 18 months away.
“Don’t wait until 18 months are up,” said Ken Joseph, managing director at Kroll who formerly worked as a senior officer in the SEC’s Division of Examinations. “The process should begin now, now that we have clarity on what the rules say.”
On Wednesday, the SEC passed a series of rules and amendments to the Investment Advisers Act that are “the most significant changes to the regulation of advisers to private funds since the Dodd-Frank Act in 2010,” according to industry group the Investment Adviser Association.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
PremiumCourt overturns SEC private fund adviser rule, calls out agency overreach
A federal appeals court struck down the Securities and Exchange Commission’s private fund adviser rule, agreeing with industry advocates that the agency overstepped its authority.
-
News BriefSEC adopts rule requiring security-based swap execution facilities register, name CCO
The Securities and Exchange Commission approved new regulations for security-based swap execution facilities, part of the agency’s steady progress in implementing languishing rules from the Dodd-Frank Act.
-
News Brief
SEC adopts Dodd-Frank rule for short sale transparency
The Securities and Exchange Commission continued its push to get across the finish line the remaining provisions of the Dodd-Frank Act with the adoption of a new rule for institutional investment managers to provide greater transparency regarding short sale data.
More from Regulatory Policy
-
Basic PageUnicoin fraud case signals regulatory warning to crypto firms on investor disclosures
The Securities and Exchange Commission has charged cryptocurrency company Unicoin, three top executives, and its general counsel with defrauding investors of $110 million by selling them bogus “rights certificates” in a future cryptocurrency coin.
-
News BriefNot just for the rich: SEC may make closed-end funds available to retail investors
Securities and Exchange Commission Chair Paul Atkins indicated he favors changing the agency’s requirement that only the wealthy can invest in so-called “closed-end” private equity funds and hedge funds.
-
Basic PageDOJ shutters FBI unit that investigated Trump and 2020 election interference
The Department of Justice (DOJ) has shuttered a special Federal Bureau of Investigation (FBI) unit that focused on public corruption and whose legwork led to the special counsel investigation of President Donald Trump for trying to overturn the 2020 election results.