Regulatory Alerts2017-05-09 | 2017-09334Added
Amendments to Investment Advisers Act Rules To Reflect Changes Made by the FAST Act
The Securities and Exchange Commission proposes amendments to Investment Advisers Act rules to align them with changes enacted by the Fixing America’s Surface Transportation Act of 2015. The Commission intends to update the definition of a venture capital fund in rule 203(l)-1 to include small business investment companies, thereby extending the venture capital fund adviser exemption to advisers of such entities. Additionally, the proposal amends the private fund adviser exemption in rule 203(m)-1 to exclude small business investment company assets from the calculation of assets under management for the $150 million registration threshold.
Topics
Share