SEC adopts rules for additional financial adviser disclosure
Investment advisers will be required to report additional information to federal regulators beginning in October 2017, under rule amendments adopted today by the Securities and Exchange Commission, the agency announced. The amendments to several Investment Advisers Act rules and the investment adviser registration and reporting form are intended to improve the quality of information that investment advisers provide to investors and the Commission. The amendments will require advisers to provide additional information regarding their separately managed account business, including aggregate data related to the use of borrowings and derivatives, as well as information on branch office operations and the use of social media. Advisers will also be required to maintain additional records related to the calculation and distribution of performance information, which could reduce misleading or fraudulent advertising and communications by advisers.