Section 413(a) of the Dodd-Frank Act requires the definition of “accredited investor” under various SEC rules promulgated under the Securities Act of 1933 to exclude the value of a person’s primary residence for purposes of determining whether the person qualifies … Read More
On January 25, 2011, the SEC proposed new Rule 204(b)–1 under the Advisers Act to require that SEC-registered investment advisers report systemic risk information to the SEC on Form PF if they advise one or more private funds. The information … Read More
On January 19, 2011, the SEC submitted to Congress the much-anticipated Study on Enhancing Investment Adviser Examinations, as required by Section 914 of the Dodd-Frank Act. The Study gives Congress three options for improving the SEC’s examination program to address … Read More
As discussed in a prior Core Compliance blog posting, the U.S. Department of Labor (“DOL”) recently proposed significant amendments to the definition of “fiduciary” under the Employee Retirement Income Security Act of 1974 (“ERISA”). Due to the considerable attention and … Read More
The new Form ADV Part 2, which requires investment advisers to provide significant additional information about the firm and its supervised persons than was required by previous versions of the form, was adopted on July 28, 2010. The revised Form … Read More
As 2010 comes to an end, firms should be aware of several important considerations with regard to their compliance programs. Investment advisers with a fiscal yearend of December 31 must file annual updates to Form ADV no later than March … Read More
As mentioned in last week’s post, the SEC on November 19, 2010, released proposed rules and rule amendments implementing various provisions of Title IV of the Dodd-Frank Act. The first release includes proposed amendments to various rules and forms in … Read More