SEC Proposes to Modernize the Advertising and Cash Solicitation Rules for Investment Advisers
On November 4, the SEC proposed amendments to modernize the advertising and cash solicitation rules applicable to investment advisers under the Investment Advisers Act of 1940, which have remained largely unchanged since their adoptions decades ago. The proposed amendments would have important implications for all investment advisers, including private equity and other private fund managers, particularly with respect to presentation of performance and solicitation activities. Our client alert outlines the main provisions of the amendments proposed by the SEC.
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