Tag:service provider oversight

1
United States: SEC Proposes New Requirements for Adviser Oversight of Service Providers

United States: SEC Proposes New Requirements for Adviser Oversight of Service Providers

By: Megan W. Clement

On October 26, 2022, the Securities and Exchange Commission (the “SEC”) proposed new rule 206(4)-11 and related amendments under the Advisers Act, which would require registered investment advisers to meet certain requirements when outsourcing “covered functions” to service providers.  Citing increasing use of third-party service providers, SEC Chair Gary Gensler noted that the proposals are designed to ensure that outsourcing is consistent with the obligations advisers have to their clients. A related fact sheet and the SEC’s press release can be found here and here.

Read More

Copyright © 2024, K&L Gates LLP. All Rights Reserved.