This is the first book to focus solely and comprehensively on the sections of the Investment Company Act of 1940 that deal with exemptions and exceptions, many of which were seriously impacted by recent Congressional changes. Written by an expert practitioner and former SEC Counsel, this reference devotes over 1,000 pages to examining all the significant changes to the Act, paying special attention to: the exception for private investment companies Newly authorized qualified purchaser funds Changes in the regulation of variable annuity and variable life insurance products and many more equally important, rapidly evolving, issues. INVESTMENT COMPANY DETERMINATION UNDER THE 1940 ACT: EXEMPTIONS AND EXCEPTIONS also addresses a number of important areas and is designed to help professionals at every level of expertise determine whether or not a particular company can be classified as an investment company. Numerous citations, pointers, and references allow users to find relevant information quickly, easily, confidently.

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Investment Adviser's Legal and Compliance Guide, Second Edition is an invaluable guide written to assist attorneys and investment advisers in both drafting their compliance policies and procedures and reviewing them annually. In addition, the book serves as a practical tool for experienced attorneys and compliance officers for fulfilling their changing responsibilities under new rules adopted under the Investment Advisers Act of 1940, as well as new staff interpretations and guidance. For the Second Edition, the original author, Terrance J. Oand’Malley, is joined by John H. Walsh. While both authors are seasoned practitioners and acknowledged experts in the area of investment adviser compliance matters, Mr. Walshand’s years of experience, including at the SEC, are reflected in the enhanced practical discussion of relevant legal and compliance issues, including increased numbers of compliance tips, enforcement and regulatory alerts, and compliance tools. Investment Adviser's Legal and Compliance Guide, Second Edition covers in detail such topics as: Filings and amendments that an adviser must make to maintain its SEC registration Major rules and requirements dealing with marketing and attracting new clients Issues arising in connection with the management of private funds The SEC's examination process New clients, and the management of client accounts. The book also covers requirements relating to the adviser's obligation to its customers, including preventing insider trading and other trading abuses, as well as an adviser's recordkeeping, which is a major factor in meeting the requirements of the Investment Advisers Act. In addition, Investment Adviser's Legal and Compliance Guide, Second Edition provides registered investment advisers and their legal counsel with a comprehensive review of their compliance responsibilities that arise under the Investment Advisers Act.

This book reproduces in a convenient, slim volume the text of the Investment Advisers Act of 1940, as amended through June 12, 2019, as maintained by the Office of Legislative Counsel of the United States Congress. This is an unofficial publication and is neither authorized nor endorsed by the United States Congress or any governmental body.