Final Rule
Prohibition of Fraud by Advisers to Certain Pooled Investment Vehicles
Overview
The Securities and Exchange Commission is adopting a new rule that prohibits advisers to pooled investment vehicles from making false or misleading statements to, or otherwise defrauding, investors or prospective investors in those pooled vehicles. This rule is designed to clarify, in light of a recent court opinion, the Commission's ability to bring enforcement actions under the Investment Advisers Act of 1940 against investment advisers who defraud investors or prospective investors in a hedge fund or other pooled investment vehicle.
Resources
Details
File Number
S7-25-06
Rule Type
Final
Release Number
IA-2628
SEC Issue Date
Aug. 3, 2007
Effective Date
September 10, 2007
Federal Register Publish Date
Aug. 9, 2007
Document Citation
72 FR 44756
RIN
3235-AJ67