SEC's New Rules for Private Fund Advisers: Global Impact and Best Practices

In this article, the U.S. Securities and Exchange Commission adopted amendments to rules under the Investment Advisers Act of 1940, which will affect advisers of private funds globally. The new rules, known as the 'Rules,' aim to reshape the regulatory landscape and best practices for the private funds industry. While the Rules don't directly apply to non-U.S. advisers managing non-U.S. private funds, even with U.S. investors, we recommend such advisors and their investors to familiarize themselves with the Rules and consider updating their policies and operational protocols accordingly.