Tag: assets under management

Exam Alert: SEC raises dollar thresholds for “qualified clients”

Effective September 19, 2011, the SEC has raised the thresholds an investor must meet to be considered a qualified client on the basis of assets under management or net worth. The thresholds are now $1 million in assets under management (previously $750,000) and $2 million in net worth (previously $1.5 million). Continue reading

Effective September 19, 2011, the SEC has raised the thresholds an investor must meet to be considered a qualified client on the basis of assets under management or net worth.  The thresholds are now $1 million in assets under management (previously $750,000) and $2 million in net worth (previously $1.5 million).  A qualified client may compensate an investment adviser based on performance.

Source: SEC Release 3236

Prior related alert: SEC proposes rule to change standards for “qualified clients”

This alert is relevant to the Series 63, Series 65, Series 66, and Series 24.

Exam Alert: SEC requires private fund advisers to file Form PF

A new SEC rule requires investment advisers with at least $150 million in private fund assets under management to periodically file Form PF. Large private fund advisers are required to file more frequently and to provide more detailed information than small private fund advisers. Continue reading

A new SEC rule requires investment advisers with at least $150 million in private fund assets under management to periodically file Form PF.  Large private fund advisers are required to file more frequently and to provide more detailed information than small private fund advisers.  Most private advisers must begin filing December 15, 2012.  Private advisers with $5 billion or more in private fund assets must begin filing June 15, 2012.

Source: SEC Release 2011-226

This alert applies to the Series 65, 66, 24, 62, and 82.

Exam Alert: SEC proposes rule to change standards for “qualified clients”

The SEC has proposed a rule to increase the dollar amount thresholds for “qualified clients” (clients that may be Continue reading

The SEC has proposed a rule to increase the dollar amount thresholds for “qualified clients” (clients that may be charged performance-based fees by an investment adviser).  The current rule requires a qualified client to have $750,000 in assets under management or $1.5 million in net worth.  Under the proposed rule, these thresholds will be increased to $1 million in assets under management and $2 million in net worth.  This revision is required to occur by July 21, 2011. Relevant to sections 4.3.3 of the Series 24 exam, as well as the Series 63, Series 65 and Series 66 exams.

http://www.sec.gov/rules/proposed/2011/ia-3198.pdf