Update – The US Securities and Exchange Commission (SEC) adopts final Private Fund Adviser Rules
The US Securities and Exchange Commission (SEC) is preparing for a regulatory overhaul for private funds, supporting its intention to increase oversight and protect investors. Under the leadership of Chairman Gary Gensler, the SEC has appointed new directors to key divisions and is focusing on areas such as investor eligibility and reporting requirements. The recently passed changes aim to address concerns about potential systemic risks and the need for increased transparency. By expanding the definition of “accredited investors” and enhancing reporting requirements, the SEC aims to strike a balance between facilitating capital formation and safeguarding investors in the private fund industry.
Private fund advisers should familiarise themselves with these new requirements to maintain compliance.