US Investment Advisers
Although state registration may apply to smaller US investment advisers, the majority of AIMA members who engage in investment advisory activities in the US are regulated by the US Securities and Exchange Commission (SEC). This regulation may take on different forms, depending on the activities and structure of the adviser; certain rules apply to all advisers, while others are specific to those fully registered with the SEC. Both registered and exempt reporting advisers benefit from AIMA’s advocacy and educational work. Workshops, webinars and online resources are available to all members and can be downloaded on demand.
Recent advocacy work includes topics such as private fund adviser reforms, securities lending reform, proposed changes to form PF, modernisation of beneficial ownership, marketing rules, climate change disclosures by corporates, proposed changes to position reporting (including short sales and synthetic positions), cross border application of European ESG disclosures to the public, insider trading enforcement, the impact of Chinese company delistings on minority shareholders, digital asset investment and valuation, alternative data usage, leverage relative to financial stability initiatives and regulatory harmonization. Members are encouraged to get involved in any of several working groups that focus on these and other issues affecting the investment advisory community at large.
(Last updated: September 2, 2022)
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