SEC Proposes Amendments to Form ADV and Certain Investment Advisers Act Rules
On May 20, 2015, the Securities and Exchange Commission proposed amendments to Part 1A of Form ADV and certain rules under the U.S. Investment Advisers Act of 1940 in an effort to enhance the “quality of information available to investors” and to permit the SEC to “more effectively collect and use data provided” by investment advisers. This client alert provides an overview of the proposed amendments and discusses their practical effect on private fund advisers.