Government document that defines and regulates the provision of investment advice is titled the "Investment Advisers Act
206(4) of the Investment Advisers Act
of 1940 to their use of social media.
The Hedge Fund Guide discusses all of the relevant regulatory schemes applicable to hedge funds and their advisers, including insights on the Investment Advisers Act
of 1940 (the "Advisers Act
"), the Investment Company Act of 1940 (the "ICA"), the Employee Retirement Income Security Act of 1974 ("ERISA"), the Securities Act of 1933 (the "Securities Act") and the Securities Exchange Act of 1934 (the "Exchange Act") as well as relevant provisions of federal banking law.
The SEC in June followed through with rulemaking responsibilities under the new law by releasing final rules that include new registration and reporting requirements for advisers to hedge funds and other private funds, and define "family offices" that are excluded from the Investment Advisers Act
In contrast, the Investment Advisers Act
of 1940 imposes a more stringent fiduciary duty on registered investment advisers, requiting undivided loyalty to the client.
On May 20, the Securities and Exchange Commission released proposed amendments to the custody rule under the Investment Advisers Act
of 1940 and related forms.
A lot has changed in the accounting profession since the Investment Advisers Act
of 1940 (Advisers Act
It covers the Securities Act of 1933 and the Securities Exchange Act of 1934, including selected rules and forms; selected provisions of Regulations S-K and S-X; Regulations M and M-A; selected provisions of Regulation ATS; Regulations AC, FD, and G; selected provisions of the Rules of Practice and Investigations; selected release of Staff Accounting Bulletins; the Sarbanes-Oxley Act of 2002; selected provisions of the Investment Advisers Act
of 1940 and the Advisers Act
Rules; and selected provisions of the Investment Company Act of 1940 and the Investment Company Act Rules.
Whereas Presidents and their advisers act
always in the national interest, and never for reasons of political expediency or personal advantage;
I'd then like to discuss the Investment Advisers Act
of 1940 and how it may apply to you.
With registration, firms will be obliged to meet specific recordkeeping requirements for email, instant messaging, social media and all other forms of electronic business communications, as detailed in SEC 204-2, Investment Advisers Act
of 1940: Books & Record Maintenance.
Bortel had received a June 15, 2011 SEC "Order instituting administrative and cease and desist proceedings pursuant to sections 203(e) and 203(K) of the Investment Advisers Act
of 1940, Making Findings and Imposing Remedial Sanctions and Cease and Desist orders.