• SEC Proposes New Disclosure and Reporting Requirements for Investment Advisers
  • December 29, 2010
  • Law Firm: Haynes Boone LLP - Dallas Office
  • On November 19, 2010, the Securities and Exchange Commission (the “SEC”) proposed new rules and amendments to existing rules and Form ADV under the Investment Advisers Act of 1940, as amended (the “Advisers Act”), that would implement various amendments to the Advisers Act contained as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”). The proposed rules and amendments, summarized below, would, among other things, clarify the eligibility of advisers to register (or remain registered) with the SEC, modify the way advisers calculate their assets under management, establish reporting requirements applicable to “exempt reporting advisers” and require advisers to make additional disclosures on Form ADV.