Subjects:

Banking and Finance

Contents:

Chapter 1: Regulation of Investment Advisers

Chapter 2: Regulation of Investment Advisers: Compliance Requirements

Chapter 3: Investment Adviser Advertising

Chapter 4: Regulation of Investment Advisers: Recordkeeping Requirements

Chapter 5: Regulation of Investment Advisers: SEC Inspections and Enforcement

Chapter 6: Sharing Resources Among Registered and Unregistered Affiliates: Participating Affiliate Arrangements

Chapter 7: U.S. Reporting Requirements for Asset Managers

Chapter 8: Recent Developments Regarding Hedge Fund Adviser Registration

Chapter 9: Impact of Investment Company Regulation on Investment Advisers to U.S. Regulated Funds

Chapter 10: U.S. Regulations Impacting Investment Advisers to Employee Benefit Plan (ERISA) Clients

Chapter 11: Regulation of Asset Managers by the Commodity Futures Trading Commission

Chapter 12: Regulation of Asset Managers Conducting Broker-Dealer Activities in the United States

Chapter 13: Marketing Non-U.S. Investment Products to U.S. Investors

Chapter 14: State Regulation of Non-U.S. Investment Advisers and Portfolio Managers

Chapter 15: Application of U.S. Economic and Trade Sanctions to Asset Managers Outside of the United States

Chapter 16: U.S. Tax Considerations in Marketing Non-U.S. Investment Products to U.S. Investors

In the last decade, the investment management industry has become more globally focused, and yet investment advisers seeking to do business across borders still face a maze of competing national regulations and laws. As a result of operating in a global market, today’s investment adviser may be subject to some form of limited extra-territorial jurisdiction without necessarily being aware of it.

In this context investment advisers need to have an understanding of the regulatory and registration requirements of the United States, where the securities regulations are among the most restrictive in the world and where the regulator – the U.S. Securities and Exchange Commission (“SEC”) - has exercised the most expansive jurisdictional authority over non-U.S. investment advisers.