Robert Payne Cave Jr., Esq.’s Post

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Class of 2026 Executive MBA UNC Kenan-Flagler Attorney at Katten Muchin Rosenman LLP

The compliance landscape has shifted! The Fifth Circuit Court of Appeals has vacated the entire suite of private fund adviser rules previously adopted by the SEC on August 23, 2023. This pivotal decision impacts rules that many advisers were gearing up to comply with by September 14, 2024, including: 🔹 preferential treatment rule 🔹 restricted activities rule 🔹 quarterly statement rule 🔹 adviser-led secondaries rule 🔹 audit rule Additionally, the Court vacated amendments requiring written documentation for annual compliance reviews under rule 206(4)-7 of the Investment Advisers Act of 1940. The SEC's future steps are currently unknown, but stay tuned for more insights and guidance from Katten. #FinancialServices #SEC #Compliance

Vacation Alert: Fifth Circuit Vacates Private Fund Adviser Rules (via Passle)

Vacation Alert: Fifth Circuit Vacates Private Fund Adviser Rules (via Passle)

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