The Alabama Securities Commission recently issued an Order exempting Alabama based investment advisers to “private funds” from the requirement to register as investment advisers with the ASC....more
The U.S. Securities and Exchange Commission has adopted amendments to the increasingly utilized “internet adviser exemption.” The exemption, originally adopted in 2002, has fostered the utilization of digital platforms for...more
Less than one year after the implementation deadline of the SEC’s amendments to Advisers Act Rule 206(4)-1 (the Marketing Rule), the SEC announced a series of enforcement actions involving alleged violations of the Marketing...more
The North American Securities Administrators Association (NASAA) recently released a report prepared by its Broker-Dealer Section Committee (Committee) presenting the findings of Phase II (B) of its National Examination...more
No later than November 4, 2022, investment advisers must have implemented measures necessary to comply with the amended Advisers Act Rule 206(4)-1(i.e., the “Marketing Rule”). Recently, the SEC’s Division of Examinations...more