Search Results for keywords:"Investment Advisers Act of 1940"

The Securities and Exchange Commission (SEC) is seeking public comments on the information collection process required by Rule 204-3 under the Investment Advisers Act of 1940, as part of extending the current information collection approval. This rule mandates that investment advisers deliver brochures and updates to clients to keep them informed about any significant changes. The SEC estimates that complying with this rule takes about 4.04 hours annually for each adviser, affecting around 15,464 advisers. Feedback is requested on whether this process is necessary, accurate, and allows for improving the information’s quality and reducing the burden on advisers, with comments due by June 9, 2025.

The Securities and Exchange Commission (SEC) has requested an extension for the collection of information related to Form PF from the Office of Management and Budget, as required by the Paperwork Reduction Act. Form PF is used by private fund advisers with significant assets under management to report certain information to facilitate the monitoring of systemic risk in the private fund industry. The SEC divides these advisers into two groups: Large Private Fund Advisers and smaller private fund advisers, and estimates varying annual burden hours for each group based on their size and filing history. Public comments on the information collection can be submitted within 30 days of the notice's publication.

The Securities and Exchange Commission (SEC) is seeking public comments on extending the information collection for "Rule 204A-1" under the Investment Advisers Act of 1940. This rule, known as the Code of Ethics Rule, requires investment advisers to maintain a code of conduct for their personnel, safeguard client information, and monitor personal security transactions. The public can comment on the necessity, accuracy, and ways to improve or reduce the burden of this information collection until March 31, 2025. Responses will help the SEC ensure compliance and evaluate the adequacy of advisers' ethical codes and trading practices.

The Securities and Exchange Commission (SEC) published a notice to adjust civil monetary penalties for inflation, as required by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. This annual adjustment considers inflation changes measured by the Consumer Price Index for Urban Consumers (CPI-U) and applies to penalties under several acts, including the Securities Act of 1933 and the Sarbanes-Oxley Act. These new penalty amounts are effective from January 15, 2021, for violations occurring after November 2, 2015. The updated amounts are published in the Federal Register and on the SEC's website.

The Securities and Exchange Commission (SEC) has announced an intention to cancel the registrations of certain investment advisers. This action is taken under Section 203(H) of the Investment Advisers Act of 1940. The notice was filed on February 24, 2021, and it advises that investment advisers need to regularly update their Form ADV electronically. For more information, individuals can reach out to Lawrence Pace, a Senior Counsel at the SEC.