In 2015, the Commission issued two proposals to modernize reporting requirements for registered investment advisers and registered investment funds. We adopted the first of these proposals in August. Those updates will enhance the information that investment advisers must provide on Form ADV – the form that advisers use to register and report annually.[1] The enhancements will fill important data gaps, such as providing the Commission with new detail about the size and activities of separately managed accounts. Because we finalized the Form ADV revisions without an open meeting, I want to take this opportunity to acknowledge the excellent work of the staff on the August release. Thank you to all who contributed – in particular, to the rulemaking staff in the Division of Investment Management.
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