The Private Fund Adviser Rules (IA-5955), a series of rules and amendments to the Investment Adviser Act of 1940 (the Final Rules), were adopted on August 23, 2023 after 18 months of discussions and changes to the proposed rules and amendments. The Final Rules are arguably the biggest regulatory development for the industry since the Dodd-Frank Act, and will impact both SEC-registered and unregistered private fund managers.

Closing out at 660 pages, the Final Rules place a weighty burden on compliance professionals to decipher the language and determine next steps for compliance.

Discussion topics

Our discussion will include:

• Quarterly Statement requirements
  • Detailed information on fees and expenses and compensation
  • Standardized fund performance
• Prohibitions on preferential treatment
• Restrictions on activities that may harm investors
• Adviser-led secondaries requirements
• Private Fund Audit requirement
• Documentation requirements for the Annual Review 

Speakers

• Carlo di Florio, Global Advisory Leader, ACA Group
• Joshua Broaded, Partner, Head of Regulatory Compliance, ACA Group
• Chase Frei, Partner, ACA’s Performance Services, ACA Group

All webcasts are recorded and will be sent to registrants following the live broadcast.