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FAST Act Investment Advisors Rules Amended

In the final rule, Amendments to Investment Advisers Act Rules to Reflect Changes Made by the Fast Act, the Securities and Exchange Commission (“SEC”) offers amendments to the provision that defines a venture capital fund and the rule implementing the private fund adviser exemption in the Investment Advisers Act to reflect changes by Title LXXIV, Sections 74001 and 74002 of the Fixing America’s Surface Transportation Act (“FAST Act”). As part of the new amendments, the venture capital fund definition under Title LXXIV, section 74001 of the FAST Act will include small business investment companies. The SEC is also amending the. Read More.

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Civil Monetary Penalties Adjusted for Inflation

A final rule has been introduced to carry out the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. The final rule implements the first annual inflation adjustment of Securities and Exchange Commission-issued (“SEC”) civil monetary penalties under the following: Securities Act of 1933 Securities Exchange Act of 1934 Investment Company Act of 1940 Investment Advisers Act of 1940 Certain penalties under the Sarbanes-Oxley Act of 2002 Violations that occurred after November 2, 2015, will be impacted upon the final rule’s effective date. For violations on or before that date, the SEC will reinstate penalty amounts in its previous adjustments as. Read More.

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