On Friday, September 1, 2023, a lawsuit was filed with the federal Court of Appeals in the Fifth Circuit challenging the validity and enforceability of the recently adopted Private Fund.
On August 23, 2023, the U.S. Securities and Exchange Commission ("SEC") adopted its highly anticipated new rules and amendments to existing rules under the Investment Advisers Act of 1940.
Today, the Securities and Exchange Commission adopted new and amended rules under the Investment Advisers Act of 1940, as amended (Final Rules) that will significantly reform the scope.