United States: SEC’s Updated Qualified Client Standards Take Effect 29 June 2026
By: Sasha Burstein, Pablo J. Man, Mark T. Heine, Edward T. Dartley, and George Zornada
The United States Securities and Exchange Commission’s (SEC) inflation adjustment to the qualified client thresholds under Rule 205-3 of the Investment Advisers Act of 1940 will become effective on 29 June 2026, and will carry important implications for SEC-registered investment advisers (RIAs) that charge performance-based compensation tied to capital gains or investment appreciation.
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