Investment Adviser Regulation: A Step-by-Step Guide to Compliance and the Law (Third Edition) guides practitioners through the maze of statutory, SEC, and state standards impacting investment advisers, as well as provides advice on the practical aspects of building a practice. This book clarifies key status issues that determine registration and disclosure duties as well as liability exposure.

The most recent update to this treatise expands its coverage of the rules and regulations affecting investment advisers. Highlights of this release include:

• Chapter 8A, Efforts to Impose a Uniform Standard of Care on Broker-Dealers and Advisers. Updated to include the March 2018 action by the Fifth Circuit Court of Appeals to vacate the Department of Labor fiduciary rule amendments (see sections 8A:7.1 and 8A:8.1).
• Chapter 11, Custody and Protection of Customer Accounts. Updated with a new discussion of whether client relationships for which an adviser is providing exclusively non-investment advisory services are within the scope of the Custody Rule (see new section 11:4:2[A][2]).
• Chapter 46, Hedge Funds. Extensively revised chapter, including updated coverage of raising capital (see section 46:4); avoiding investment company status (see section 46:5); hedge fund managers (see section 46:6); disclosure of market participation (see section 46:13); and systemic risk regulation (see section 46:15).
• Chapter 49C, Offering Cross-Border Advisory and Broker-Dealer Services to Non-U.S. Clients. Extensively updated chapter, including new discussion of key considerations in offerings to European clients under MiFID (see section 49C:4.3).

This treatise is available on PLI PLUS, our online research database. If you’d like to purchase a print copy, please email libraryrelations@pli.edu or call 877.900.5291.