Private funds’ ‘lingua franca’ under threat?

Industry participants are worried about the SEC’s aim to bring private funds into scope of the advertising rule by year end.

Advertising rule: Securities and Exchange Commission chair Jay Clayton is pushing to have a proposed overhaul of the Investment Advisers Act’s advertising rule done by year end, sources tell Bill Myers of sister title Regulatory Compliance Watch. The overhaul would bring private funds into scope, and Bill reports that the American Investment Council and others have serious concerns about it.

Email prepared by Graham Bippart