Page 16 - February 2018

LXXIV, section 74002 of the FAST Act amended the SEC issued a notice of intention to cancel
exemption from investment adviser registration for registrations of the investment advisers whose names
any adviser solely to “private funds” with less than appear in the appendix attached to the notice,
$150 million in assets under management in Advisers pursuant of section 203(h) of the Investment
Act section 203(m) by excluding the assets of “small Advisors Act of 1940. Any interested person may
business investment companies” when calculating submit to FCC in writing a request for a hearing on
“private fund assets” towards the registration the cancellation of the registration of any registrant.
threshold of $150 million. Accordingly, we are Hearing requests are due 02/26/2018. The notice may
amending the definition of “assets under be viewed at: https://www.gpo.gov/fdsys/pkg/FR-
management” in the rule that implements the private 2018-02-01/pdf/2018-01948.pdf. Federal Register,
fund adviser exemption to exclude the assets of Vol. 83, No. 22, 02/01/2018, 4716-4718.
“small business investment companies.” The final
rule is effective 03/12/2018. The final rule may be SEC Issues Amendments to Forms.
viewed at: https://www.gpo.gov/fdsys/pkg/FR-2018-
01-11/pdf/2018-00299.pdf. Federal Register, Vol. SEC issued a technical correction to a form
83, No. 8, 01/11/2018, 1296-1302. amendment that was published in the Federal
Register on 06/01/1997. SEC adopted revisions to
SEC Issues Staff Accounting Bulletin 117. forms and schedules to eliminate the portion of those
forms that requests filers who are natural persons to
SEC has issued Staff Accounting Bulletin No. 117, furnish their Social Security numbers. The 1997
which modifies portions of the interpretive guidance amendment to Form MSD inadvertently omitted the
included in the Staff Accounting Bulletin Series in removal of the second of two references to Social
order to make the relevant interpretive guidance Security numbers in the instructions to the form. The
consistent with authoritative accounting guidance and amendment is effective 01/30/2018. The notice may
SEC rules and regulations. Specifically, the update is be viewed at: https://www.gpo.gov/fdsys/pkg/FR-
issued to bring existing guidance into conformity 2018-01-30/pdf/2018-01681.pdf. Federal Register,
with the Financial Accounting Standards Board Vol. 83, No. 20, 01/30/2018, 4138-4139.
Accounting Standards Codification Topic 321,
Investments—Equity Securities. The Accounting FTC Issues Final Inflation Adjustments
Bulletin is effective 01/11/2018. The notice may be for Civil Monetary Penalties.
viewed at: https://www.gpo.gov/fdsys/pkg/FR-2018-
01-11/pdf/2018-00352.pdf. Federal Register, Vol. The Federal Trade Commission (FTC) issued a final
83, No. 8, 01/11/2018, 1295-1296. rule that implements inflation adjustments to civil
money penalties that FTC may impose or enforce.
SEC Issues Final Inflation Adjustments The final rule is effective 01/22/2018. The notice
for Civil Monetary Penalties. may be viewed at:
https://www.gpo.gov/fdsys/pkg/FR-2018-01-
SEC issued a final rule that implements inflation 22/pdf/2018-00979.pdf. Federal Register, Vol. 83,
adjustments to civil money penalties that SEC may No. 14, 01/22/2018, 2902-2903.
impose or enforce pursuant to the Securities Act of
1933, the Securities Exchange Act of 1934, the FCC Issues Final Inflation Adjustments
Investment Company Act of 1940, the Investment for Civil Monetary Penalties.
Advisers Act of 1940, and certain penalties under the
Sarbanes-Oxley Act of 2002. The rule is effective
01/15/2018. The notice may be viewed at: The Federal Communications Commission (FCC)
https://www.gpo.gov/fdsys/pkg/FR-2018-01- issued a final rule that implements inflation
11/pdf/2018-00387.pdf. Federal Register, Vol. 83, adjustments to civil money penalties that FTC may
No. 8, 01/11/2018, 1396-1399. impose or enforce. The final rule is effective
02/01/2018. The notice may be viewed at:
https://www.gpo.gov/fdsys/pkg/FR-2018-02-
SEC Announces Intention to Cancel 01/pdf/2018-01990.pdf. Federal Register, Vol. 83,
Registrations of Certain Investment No. 22, 02/01/2018, 4600-4601.
Advisors.
NCUA Issues Inflation Adjustments for
Civil Monetary Penalties.
FEBRUARY 2018
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