On August 23, 2023, by a vote of 3-2, the Securities and Exchange Commission (the “SEC”) adopted new final rules and amendments to existing rules under the Investment Advisers Act of 1940, as amended (the “Advisers Act”) with respect to the regulation of private fund advisers (the “Final Rules”).  In the adopting release for the Final Rules (the “Adopting Release”), the SEC noted that the Final Rules are designed to protect investors who directly or indirectly invest in private funds by increasing visibility into certain practices involving compensation schemes, sales practices, and conflicts of interest through disclosure; establishing requirements to address such practices that have the potential to lead to investor harm; and restricting practices that are contrary to the public interest and the protection of investors.

On September 27, 2023, Seward & Kissel partners hosted a one-hour webinar providing a high level summary of, and addressing key issues with the following Rules:

• Restricted Activities Rule
• Preferential Treatment Rule
• Quarterly Statement Rule
• Audit Rule
• Adviser-led Secondaries Rule

*This program is eligible for 1 CLE credit hour in the category of Professional Practice under the requirements of New York State CLE.

Click here to access the webinar.