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.
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
-
News BriefFinCEN again delays U.S. ban on three Mexican financial institutions
The order barring three Mexican financial institutions from doing business with U.S. financial institutions has been delayed until October.
-
Basic PageSEC taps military judge as Enforcement Division Director
The SEC has named Margaret “Meg” Ryan, a senior military judge and Harvard Law lecturer, as its next Enforcement Division Director—an unconventional pick that could signal changes in enforcement strategy.
-
ArticleCalifornia privacy regulator unveils new cyber, risk, and automation rules
Businesses operating in California will need to meet new, first-in-the-nation privacy requirements for cybersecurity, risk assessments, and automated decision-making technology, under a large expansion of rules by the state.