The Private Fund Adviser Rules (IA-5955) 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.
The questions answered in this FAQ are some of the most common questions we have been asked while deciphering these rules for our clients and determining their applicability.
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