SEC: Rulemaking

This final rule creates six new Advisers Act rules and modifies two others and becomes effective Nov. 13, 2023

'The clock is ticking'

By slipping 2019 fiduciary guidance in as dicta, Commission may signal a crackdown

"Even if we assume that the Commission’s Dickensian tale of hapless and helpless investors is true, the solution is not more regulation"

Here's a rundown of key SEC rules in the works

The "rules will bring greater transparency to investors regarding preferential treatment, often arranged through side letters. Under the rules, advisers will be able to continue ...

It "is our imperative, our mandate, our responsibility, to protect all investors – large and small .... I have the unfortunate distinction of learning that investors of ...

The "Commission no longer is content to regulate private fund advisers to the same extent as other investment advisers. Instead, private fund advisers will be ...

"Examinations have revealed risks that advisers to private funds disclose inaccurate, incomplete or misleading information, engage in disparate treatment of investors, and often inadequately address ...

New rules softer than proposal, still impose rigid disclosures on exempt advisers