• SEC Adopts Investment Adviser Code of Ethics
  • July 15, 2004
  • Law Firm: Reed Smith LLP - Pittsburgh Office
  • On July 2, 2004, the SEC issued a Release adopting new rule 204A-1 under the Investment Advisers Act, to require SEC-registered advisers to adopt codes of ethics, along with related amendments to the recordkeeping provisions of Advisers Act rule 204-2. The SEC also adopted amendments to Part II of Form ADV, to require advisers to describe their codes of ethics to clients and, upon request, to furnish clients with a copy of the code of ethics. Lastly, the SEC adopted "conforming" amendments to the code of ethics' requirements of Investment Company Act rule 17j-1.