SEC Issues Final Rule on Regulation of Private Fund Advisers

The SEC has issued a final rule that amends the Investment Advisers Act of 1940 to “enhance the regulation of private fund advisers and update the existing compliance rule that applies to all investment advisers.” The SEC is releasing the final rule in an effort to “protect private fund investors by increasing transparency, competition, and efficiency in the private funds market.”

The final rule will become effective 60 days after the date of its publication in the Federal Register. For more information about the amendments, see the press release and fact sheet — as well as statements by SEC Chair Gary Gensler and Commissioners Caroline Crenshaw, Jaime Lizárraga, Hester M. Peirce, and Mark Uyeda — on the SEC’s Web site.