The National Association of Insurance Commissioners (NAIC) held its Summer National Meeting, at which it adopted new guidelines allowing state regulators or NAIC staff to override formerly automatic ratings on investments....more
This update covers legal developments and regulatory news for funds, their advisers, and industry participants for the quarter ended June 30.
Rulemaking and Guidance:
• SEC Issues Third Marketing Rule Risk Alert for...more
On August 23, the Securities and Exchange Commission finalized the Private Funds Rules. Listen to Troutman Pepper Partner Genna Garver and Fairview General Counsel and Executive Vice President Amber Allen as they discuss the...more
On August 23, the Securities and Exchange Commission (SEC) adopted new rules (Adopting Release) for private fund advisers under the Investment Advisers Act of 1940, as amended (Advisers Act). The new rules require private...more
On May 3, the U.S. Securities and Exchange Commission (SEC) adopted significant amendments to Form PF, the confidential reporting form for certain SEC-registered investment advisers to private funds. The final amendments will...more
On January 26, the SEC approved proposed amendments to Investment Advisers Act Rule 204(b)-1 and Form PF to require prompt reporting of certain extraordinary events that may signal distress or market instability. The...more
In light of recent amendments adopted by the U.S. Securities and Exchange Commission (the SEC), the pool of potential investors for private fund managers may be expanding. ...more