Corporate partner Terrance O'Malley comments on the recent SEC vote to amend the standard Form ADV Part II in <em>HedgeWorld</em>.

Corporate partner Terrance O'Malley comments on the recent SEC vote to amend the standard Form ADV Part II in HedgeWorld.

Corporate partner Terrance O'Malley is quoted in a February 13, 2008 HedgeWorld article, "SEC Proposes More RIA Disclosure," on the recent SEC vote to amend the standard Form ADV Part II that will now require all registered financial adviser firms to provide their clients with a narrative brochure that describes their practices, services, conflicts as well as disciplinary history.  The proposal was first suggested in 2000 and Terrance explains that the delay in the vote was "due to a resistance by the advisers, who are unsurprisingly concerned about the extra costs the rule impose."  He also cites a number of other issues that pushed amending the ADV to the backburner.  Terrance says that this will be a considerable burden on large organizations but investors will have a "leg up" if they already have a well-written narrative in place.

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