The US Securities and Exchange Commission (SEC) recently proposed new and amended rules for private fund advisers under the Investment Advisers Act of 1940 (Advisers Act) that have the potential to shake up the entire private funds industry.
Morgan Lewis addressed the SEC’s spate of proposed industry reforms in a recent webinar featuring partners Christine Lombardo, Courtney Nowell, Joe Zargari, and Jedd Wider. This second article in a two-part series denotes potential problems raised by the proposed Advisers Act reforms that prohibit certain activities and types of preferential treatment of investors, in addition to creating expansive new quarterly reporting requirements.
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