29 Mar 2022
Spring Awakening: A Newly Busy Time for the SEC
On February 9, 2022, by a vote of 3-1, the SEC proposed new rules that would dramatically and fundamentally alter the regulation of private fund advisers. The proposed rules are "designed to protect private fund investors by increasing their visibility into certain practices, establishing requirements to address practices that have the potential to lead to investor harm, and prohibiting adviser activity that is contrary to the public interest and the protection of investors." They represent a significant expansion of the regulation of private fund advisers and would materially impact the operations and practices of both registered and unregistered private fund advisers (including exempt reporting advisers).
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