Fried Frank > SEC’s Investment Management Director Outlines Advisers Act Priorities
siteFiles/LibraryPhotos/9CE7DE0123E2C07385AD0911BCB3F89A.jpg

SEC’s Investment Management Director Outlines Advisers Act Priorities


By: Jessica Forbes, Terrance J. O'Malley

The SEC's Director of the Investment Management Division recently outlined the following priorities under the Advisers Act: (1) modernizing the recordkeeping rule,(2) reproposing and finalizing revisions to the Form ADV, Part II, (3) providing addition guidance on soft dollars, portfolio trading practices and best execution, (4) adopting a new anti-fraud rule to address the relationship between a hedge fund manager and the fund's investors, and (5) studying the broker-dealer and investment adviser regulatory schemes. The attached Client Memorandum provides additional detail on each of these potential initiatives. 

Additional Information
publications-detail.inc