SEC Releases Final Private Fund Adviser Rules: Key Changes and Takeaways

Other Author      Rachel A. Ponton, Professional Support Lawyer - Funds

On August 23, 2023, the US Securities and Exchange Commission (the “SEC”) adopted final rules imposing additional obligations on and restricting certain practices by advisers to “private funds” (the “Final Rules”). Ahead of our in-depth analysis of the Final Rules, we summarize in this Legal Update certain high-level differences between the Final Rules and the proposal that was issued on February 9, 2022, and note several general takeaways.