2023 Regulatory Outlook
Join us as we review the regulatory changes that will likely have implications on firms' compliance, cybersecurity, ESG, and performance programs in 2023.
The U.S. Securities and Exchange Commission (SEC) has now finalized five new rules as well as amendments to Rules 204-2 and 206(4)-7 under the Investment Advisers Act of 1940 (the Advisers Act), known as the Private Fund Reform Rule (IA-5955). With a publish date in the Federal Register of September 14, 2023, the clock is ticking for private fund managers to comply.
Our team can help you to adapt to the evolving regulatory landscape while considering the complexity of your firm’s unique compliance requirements. To help you get started, we've pulled together a few resources and insights you may find valuable as you navigate the path forward.
The Private Fund Reform Rule (IA-5955) was adopted on August 23, 2023 after 18 months of discussions and changes to the proposed rules and amendments. The Final Rules are arguably the biggest regulatory development for the industry since the Dodd-Frank Act, and will impact both SEC-registered and unregistered private fund managers.
Closing out at 660 pages, the Final Rules place a weighty burden on compliance professionals to decipher the language and determine next steps for compliance.
This webcast uncovered what these Rules will mean for your firm and provide actionable steps to prepare for the pending compliance date
This webcast will dig in to the new requirements for quarterly investor reporting, how it impacts firms, and provide actionable steps for compliance with these new requirements.
Thursday, September 21, 2023
9:00 AM PDT | 12:00 PM EDT | 5:00 PM BST
This webcast will focus on restricted activities and limitations to preferential treatment imposed by the rule and provide actionable steps to prepare for the pending compliance date.
Thursday, October 5, 2023
9:00 AM PDT | 12:00 PM EDT | 5:00 PM BST
Join us as we break down the Audit Rule, adviser-led secondaries, and the new requirements for the annual compliance program review and provide actionable steps to prepare for the pending compliance date.
Thursday, October 19, 2023
9:00 AM PDT | 12:00 PM EDT | 5:00 PM BST
The SEC recently voted to adopt new rules and amendments, known as the Private Fund Reform Rule. Here's a summary of the new rules and how they changed from the original proposals.
The SEC’s recent vote to adopt the Private Fund Reform Rule (IA-5955) presents some of the most significant private funds regulatory reform since the Dodd Frank Act. Read our summary of the Final Rules and our guidance for firms.
This month's update includes insights regarding the SEC’s largest whistleblower award, FINRA’s first expulsion for firm’s Reg BI failures, and more.
Learn more about recent regulatory developments and industry insights in our Private Markets Quarterly Newsletter.
The rules proposed by the SEC earlier this year revealed how the SEC’s examination and enforcement agenda is likely to unfold in the coming months and years, regardless of the ultimate outcome of those rules. Find out what your firm should be doing in light of these proposals.
The SEC staff under Chair Gary Gensler have been busy developing a raft of proposed new rules that could have big implications for real estate advisers, in particular those that are vertically integrated.
Public remarks show that growth of the private markets industry is spurring interest by SEC senior staff. What does this mean?
On February 9, 2022, the SEC proposed five new rules as well as amendments to Rules 204-2 and 206(4)-7 under the Investment Advisers Act of 1940, as amended. According to the SEC, these proposals are designed to address "concerns that arise out of the opacity that is prevalent in the private fund structure."
Join us as we review the regulatory changes that will likely have implications on firms' compliance, cybersecurity, ESG, and performance programs in 2023.
Join us Tuesday, April 19 at 11:00 AM EDT for an in depth discussion about the proposed rules and their anticipated impact on private fund businesses (including compliance and performance teams).
We invite you to join us as we dive into regulatory and industry considerations around performance measurement for private markets firms.