Recognized as one of the premier practices in the industry, the Investment Funds Group leverages its extensive market knowledge and deep, long-term relationships to help sophisticated clients reach their most important investment goals. We have been at the forefront of some of the industry’s most creative and innovative investment product developments, helping clients set market trends instead of reacting to them.
SEC Adopts Final Form PF: Certain Implications for Hedge Fund and Private Equity Fund Advisers
November 15, 2011
On October 31, 2011, the SEC and the CFTC adopted final rules http://www.sec.gov/rules/final/2011/ia-3308.pdf under the Investment Advisers Act of 1940 and the Commodity Exchange Act, respectively, to implement Sections 404 and 406 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. New Advisers Act Rule 204(b)-1 requires investment advisers registered or required to register with the SEC that advise one or more "private funds" and have at least $150 million in "private fund assets" under management to file a Form PF with the SEC.