Changes to Form ADV and Rule 204-2 (Books and Records)

Icon ResourceForm ADV

On August 25, 2016, the Securities and Exchange Commission announced the adoption of amendments to the Investment Advisers Act of 1940 and Form ADV.

Additional information on Form ADV will be required regarding separately managed accounts business, including data related to the use of borrowings and derivatives, and information about other aspects of the advisory business, including branch office operations, and the use of social media. It will also facilitate streamlined registration and reporting for groups of private fund advisers operating a single advisory business.

Books & Records Rule

Rule 204-2 (Books and Records to be Maintained by Investment Advisers) has been amended to require advisers to maintain additional records related to the calculation and distribution of performance information.

The amendments will become effective 60 days after publication in the Federal Register and advisers will need to begin complying with the amendments on October 1, 2017.


Final Rule



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