Investment Advisers Act: The Whistle Heard ‘Round the World
Publication Name: Law 360
Publication Date: 05-Nov-2013
Publication Link: Law 360 (Registration required) (Payment required)
Primary TELG Authors: R. Scott Oswald
Law360, New York (November 05, 2013, 11:50 AM ET) — A little-discussed aspect of the Dodd-Frank Wall Street Reform and Consumer Protection Act includes modifications to the Investment Advisers Act (IAA), which clarify the applicability of U.S. Securities and Exchange Commission regulation to certain “investment advisers” who operate outside the United States. Through the narrowing of an exception to the IAA, Congress has in fact expanded the possibilities for extraterritorial application of the Dodd-Frank Act’s whistleblower protections.
Background and History
The IAA began its life in the post-Great Depression era, passing in 1940 and regulating those who provide advice on certain financial investments. As a general rule, investment advisers who provide advice on securities are required to register with the SEC, and because of this, they are subject to the SEC rules.
“Investment Advisers Act: The Whistle Heard ‘Round the World.” Law360 (November 5, 2013)
