Mazars logo Mazars logo Mazars logo Mazars Financial Services blog

SEC Adopts Amendments to Investment Adviser Act Rules

On August 25, 2016, the Securities and Exchange Commission (the “SEC” or the “Commission”) adopted amendments to various rules under the Investment Advisers Act of 1940 (the “Act”). The amendments will be effective 60 days after the date of publication in the Federal Register, but investment advisers are expected to comply with the amendments after October 1, 2017. In general, the amendments will cause investment advisers to provide more specific and detailed information about their advisory business, which is expected to be more useful to clients as well as to assist the SEC in its risk-monitoring and examination programs.

Most of the amendments relate to providing more information about separately managed accounts (which previously has not been a focus under the Act). The final amendments are very similar to the proposed amendments issued by the SEC in May 2015, with certain improvements and changes made due to the Commission’s consideration of comments submitted by various commenters.

This alert summarizes the key amendments to Form ADV and the Act. Read the full article here.

Charles Abraham

U.S. Financial Services Practice Leader

Charles is a partner with nearly 15 years of experience providing auditing and advisory services in the financial services industry. He currently serves as the Financial Services Practice Leader at Mazars USA. Charles’ experience include providing accounting, auditing, and advisory services to a range of financial institutions, spanning domestic and offshore hedge funds, private equity funds, fund of funds, business development companies under the Investment Company Act of 1940, registered investment companies, SBICs, registered investment advisers, specialty finance companies, banks, and broker-dealers. His expertise encompasses audit and advisory services related to (a) the fair value of investment portfolios (under ASC Topic 820), (b) internal control over financial reporting (under COSO 2013), and (c) SEC filers. A member of the Mazars USA’s SEC Practice Group and the Accounting and Auditing Council, Charles leads education programs and contributes to various published articles. Charles graduated from New York University, earning a Bachelor of...

Add New Comment

Leave a Reply

Your email address will not be published. Required fields are marked *