Close Menu Navigation
Open Categories Menu Section 204A | Investment Advisers Act of 1940
- 12 November, 2009 -
- compliance, Investment Advisor, Laws -
- Tags : compliance, hedge fund law, insider trading, investment adviser, investment adviser compliance, Investment Advisor, registered investment advisor, section 204A
- 1 Comment
Section 204A — Prevention of Misuse of Nonpublic Information
Every investment adviser subject to section 204 shall establish, maintain, and enforce written policies and procedures reasonably designed, taking into consideration the nature of such investment adviser’s business, to prevent the misuse in violation of this Act or the Securities Exchange Act of 1934, or the rules or regulations thereunder, of material, nonpublic information by such investment adviser or any person associated with such investment adviser. The Commission, as it deems necessary or appropriate in the public interest or for the protection of investors, shall adopt rules or regulations to require specific policies or procedures reasonably designed to prevent misuse in violation of this Act or the Securities Exchange Act of 1934 (or the rules or regulations thereunder) of material, nonpublic information.
[...] trading is usually addressed in the firm’s compliance policies and procedures. Indeed, Section 204A of the Investment Adviser Act of 1940 requires SEC registered investment advisers to [...]