Advisers and Funds

This is a collection of pages on the topic of regulatory requirements applicable to investment advisers and investment funds. See also the collections of pages on Broker-Dealers, which includes information on municipal securities, and the Commodity Exchange Act, which cover specific topics related to the regulation of commodity trading advisors and commodity pool operators.

Overview

Definition of Investment Adviser

ERISA

Federal and State Jurisdiction

IAA By Section and By Rule

IA Materials

IA Registration Requirement

Investment Funds Documents

State Securities Law

Back Office

Business Continuity: Securities Law and CEA

IA Custody Requirements

Compliance

Disqualifications and Waivers

IA Cross and Principal Transactions

IA Information Walls and Codes of Ethics

IAs and RICs: General Supervisory Obligations

IA Scalping

Personal Account Trading

"Proxy Advisors" and Proxy Voting by Advisers

Securities Law Enforcement

Seniors

Servicemember Protections

Soft Dollars

ERISA and Tax

Foreign Account Tax Compliance Act ("FATCA")

ICA Registration Exemptions

Asset-Backed Securities Issuers (Rule 3a-7)

Charitable Organizations and Church Plans (Section 3(c)(10) and 3(c)(14))

Employees' Securities Companies (Section 6(b))

Finance Subsidiary ICs (Rule 3a-5)

Foreign Banks and ICs (Rule 3a-6)

ICs Owned by Non-ICs (Rule 3a-3)

Inadvertent ICs (Section 3(b))

Investment Advisory Programs (Rule 3a-4)

Municipal Fund Securities

Oil, Gas and Mineral Companies (Section 3(c)(9))

Prima Facie ICs (Rule 3a-1)

Private Funds (Section 3(c)1 and 3(c)7))

Quantitative Test (Section 3(a)(1)(C))

R & D Companies (Rule 3a-8)

Transient ICs (Rule 3a-2)

Section 3(c)(4), (5) and (6) Funds, Including REITs

U.S. Banks, Bank-Funds and Insurance Companies (Section 3(c)(3))

ICA Regulation

Capital Structure, Senior Securities and Liquidity

Custody Requirements

Reporting

Form PF

IA Recordkeeping and Reporting

SEA Large Trader Reports

SEA 13(f) Position Reporting

Sales

Breakpoint Sales and Share Class Issues

DOL Fiduciary Rule

Form CRS Client Relationship Summary

IA Brochure Rule

IA Contract Terms: Performance Fees, Assignments, Hedge Clauses

IA Solicitors

Marketing Materials

Performance Compensation and Contract Terms

Political Contributions (Pay to Play)

Regulation Best Interest

Telemarketing

Standard of Conduct and Fiduciary Guidance

Types of Advisers

Adviser Registration Process

Exempt Reporting Advisers

Family Offices

Investment Advisory Programs (Investment Company Act Rule 3a-4)

Non-U.S. Advisers ("Foreign Private Advisers" and "Participating Affiliates")

Private Fund Adviser Exemption

Robo-Advisers; Internet Advisers; Automated Advisers

Single Registration, Multiple Advisers

Venture Capital Funds and Advisers

Wrap Fee Programs and Accounts