Regulatory Alerts2014-04-17
Final Permissible Activities by Investment Advisers in the Securities Market
The Securities and Exchange Commission issued Circular SEC/CIR/001/2014 to define the permissible activities for licensed investment advisers and fund managers. The guidance explicitly authorizes core operations including portfolio management across capital and money market instruments, corporate advisory services such as mergers and securities issuance, and the commercial publication of financial research. Licensed entities must obtain prior clarification from the Commission before undertaking any business activities not explicitly listed in this circular.
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