Alerts11.17.22
SEC Proposes New Rule with respect to Outsourcing by Investment Advisers
The SEC has proposed a new rule that, if adopted, will impose new requirements on RIAs that outsource certain functions to service providers with respect to the selection, monitoring and continued engagement of such service providers
On Oct. 26, 2022, the Securities and Exchange Commission (“SEC”) proposed rule 206(4)-11 (the “Proposed Rule”), a new rule under the U.S. Investment Advisers Act of 1940 (“Advisers Act”) that, if adopted in its current form, will impose new requirements on investment advisers that are required to be registered with the SEC (“RIAs”) with respect to outsourcing certain Covered Functions to Service Providers (each as defined below).
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