What SEC Registration Means for Hedge Fund Advisers
May 30, 2012 Comments Off on What SEC Registration Means for Hedge Fund Advisers
As noted in a previous post, the Deputy Director of the SEC’s Office of Compliance Inspections and Examinations (OCIE) recently gave a speech that quantified some of the effects that Dodd-Frank has had on registered investment advisers. OCIE’s Deputy Director also suggested ten takeaways for advisers to hedge funds now that they are registered. The list is also a helpful reminder for previously registered advisers. « Read the rest of this entry »
Dodd-Frank Leads to 50% Increase in SEC-Registered Private Fund Managers
May 15, 2012 § 1 Comment
According to comments by the Deputy Director of the SEC’s Office of Compliance Inspections and Enforcement, since passage of the Dodd-Frank Act (July 2011), the number of SEC-registered private fund advisers has grown from approximately 2,550 to approximately 4,000–an increase of 52%.
Other items of interest from the speech: « Read the rest of this entry »
Financial Services Committee Proposes Investment Adviser SROs
April 26, 2012 Comments Off on Financial Services Committee Proposes Investment Adviser SROs
Rep. Spencer Bachus (R-AL), Chair of the House Financial Services Committee, and Rep. Carolyn McCarthy (D-NY) introduced legislation–the Investment Adviser Oversight Act of 2012–that would create new self-regulatory organizations intended to provide more efficient and effective oversight of the retail investment advisory industry. « Read the rest of this entry »
Investment Advisers and Social Media
April 19, 2012 Comments Off on Investment Advisers and Social Media
Growing numbers of investment advisers and fund managers are using social media–Facebook, LinkedIn, Twitter, blogs, etc. After passage of the JOBS Act–and removal of the ban on general solicitation–we expect even more widespread use of these outlets to reach new markets and clients.
Advisers and private fund managers should recognize that these new forms of communication remain under the same antifraud, compliance, and recordkeeping requirements as traditional forms of advertising and communications. The SEC has already charged one adviser with fraud arising from offering fictitious securities through social media sites.
In recognition of the growing role of social media use by advisers, SEC staff has provided guidance for advisers when reviewing their compliance programs to address social media use. « Read the rest of this entry »
Next Steps for the JOBS Act
April 11, 2012 § 3 Comments
Now that President Obama has signed (on April 5) the JOBS Act, the clock is running for the SEC. The agency has 90 days—or until July 4, 2012—to allow general solicitation and advertising for securities offerings to accredited investors under Rule 506 of Regulation D.
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