An investment adviser settled SEC charges for overcharging approximately 10,000 clients an aggregate of $26.8 million.
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The SEC adopted significant new regulation of private fund advisers under the Advisers Act, as well as other requirements that apply to all SEC-registered investment advisers.
An investment adviser settled charges for making misleading statements in advertisements based on hypothetical performance.
In a public statement, Managed Funds Association President and CEO Bryan Corbett argued that the SEC’s proposal on private fund adviser requirements would be harmful to both investors and the market.
A host of trade associations, including SIFMA and the Managed Funds Association, asked the SEC to extend the comment deadline for a proposed rulemaking on the use of predicative data analytics technologies.