SEC unveils new private fund reforms – scope and best compliance practice

Reforms bring several significant requirements applicable to private fund managers, including non-US based advisers and exempt reporting advisers.

The SEC released its long awaited private fund reforms on August 23.  These reforms are reflected in the adoption of Rule 211 of the Investment Advisers Act of 1940 (the Private Fund Rule), bringing several significant requirements applicable to private fund managers, including exempt reporting advisers.

The new Rule requires fund managers

Free Trial

Register for free to keep reading.

To continue reading this article and unlock full access to GRIP, register now. You’ll enjoy free access to all content until our subscription service launches in early 2026.

  • Unlimited access to industry insights
  • Stay on top of key rules and regulatory changes with our Rules Navigator
  • Ad-free experience with no distractions
  • Regular podcasts from trusted external experts
  • Fresh compliance and regulatory content every day
Register for free Already a member? Sign in