An SEC and CFTC joint final rule adopting amendments to Form PF will go into effect on March 12, 2025. The final rule was published in the Federal Register.
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An investment adviser settled charges with the SEC for failing to timely disclose the adviser's "control" purpose, with respect to an issuer whose shares it had acquired for the account of a hedge fund that it managed.
FinCEN proposed to include "investment adviser" in the definition of "financial institution" under the Bank Secrecy Act. The proposed rule would require advisers to implement AML/CFT programs and maintain recordkeeping requirements.
FINRA amended its Codes of Arbitration Procedure. The revisions make changes to the arbitrator list selection process and clarify requirements on prehearing conferences, hearings, claims and motions practice, case dismissals and hearing records.
In a joint final rule, the SEC and CFTC adopted amendments to Form PF that require more information on private funds.