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ARTICLE · 07 SEPTEMBER 2023

Analyzing The SEC's Latest Changes To Private Fund Adviser Rules

Rich May, P.C.
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Drastic regulatory changes are taking place in the world of private funds. On August 23, 2023, the U.S. Securities and Exchange Commission (SEC) introduced amendments to the Investment Advisers Act of 1940...

United StatesCorporate/Commercial Law
Diana Alsabe
Diana Alsabe
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Drastic regulatory changes are taking place in the world of private funds. On August 23, 2023, the U.S. Securities and Exchange Commission (SEC) introduced amendments to the Investment Advisers Act of 1940 (the "Advisers Act") which substantially impact both SEC-registered investment advisers and unregistered investment advisers. The SEC voted 3-2 along party lines to adopt a set of new rules under the Advisers Act, with an express focus on private funds, which have far-reaching implications for both SEC-registered investment advisers and unregistered investment advisers (the "New Rules").

The New Rules are adopted with the intent of enhancing transparency, and will require SEC-registered investment advisers to:

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