WASHINGTON, March 31 -- Securities And Exchange Commission has issued a proposed rule called: Performance-Based Investment Advisory Fees.
The proposed rule was published in the Federal Register on March 31 by Vanessa A. Countryman, Secretary.
Summary: The Securities and Exchange Commission (the "Commission") intends to issue an order that would adjust for inflation dollar amount thresholds in the rule under the Investment Advisers Act of 1940 that permits investment advisers to charge performance-based fees to "qualified clients." Under that rule, an investment adviser may charge performance-based fees if a "qualified client" has a certain minimum net worth or minimum dollar amount of assets under the management of the adviser. The Commis...