SEC Adopts The Private Fund Reform Rule

The Impact of the Final Rules on Private Fund Advisers and All Registered Investment Advisers

The long-awaited private fund reforms were officially adopted by the SEC on August 23, 2023. “Private funds and their advisers play an important role in nearly every sector of the capital markets,” said SEC Chair Gary Gensler. “By enhancing advisers’ transparency and integrity, we will help promote greater competition and thereby efficiency. Consistent with our mission and Congressional mandate, we advance today’s rules on behalf of all investors — big or small, institutional or retail, sophisticated or not.”

These rules aim to protect investors in private funds by increasing transparency on compensation, sales practices, and conflicts of interest through disclosure. They also establish requirements to address harmful practices and restrict those contrary to the public interest and investor protection.

For More Information

Please see the SEC Press Release as well as the SEC overview and links to the Final Rules for more information.

How Coast To Coast Compliance Can Help.

Coast to Coast Compliance is happy to help you navigate the new rules that are applicable to your firm.

Please note that all registered investment advisers, including those that do not advise private funds, are required to document in writing the annual review of their compliance policies and procedures.  

Coast to Coast Compliance can perform an independent annual review of your firm’s compliance program. We will conduct a comprehensive review of the consistency and adequacy of your firm’s policies and procedures, as well as the completeness and effectiveness of its overall compliance program. We will provide a written annual review report documenting the scope of our review, relevant findings, and any resulting recommendations.

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