Former SEC Prosecutor
and Wall Street Defense Counsel
The Investment Advisers Act of 1940, commonly known as the Advisers Act, regulates investment advisers.
The Advisers Act is administered and enforced by the Securities and Exchange Commission (SEC). A key goal of this federal statute is to monitor and set standards for those who advise investors, including individuals, pension funds, and institutions.Definition of Investment Adviser
The Advisers Act defines an investment adviser as any person or firm that is:
This definition is subject to various exceptions, including lawyers, domestic banks, newspapers, and accountants, as well as certain exemptions (if, for example, an adviser is managing assets under $100 million).Requirements of the Advisers Act
Among its most significant provisions, the Advisers Act requires that investment advisers must:
The Advisers Act also explicitly prohibits misstatements or misleading omissions of material facts and other fraud relating to the conduct of an investment advisor.Common Violations of the Advisers Act
Among some of the most common violations of the Advisers Act are:
Whistleblowers can play an important role in helping the SEC identify and prosecute violations of the Advisers Act or other provisions of federal securities laws. Whistleblowers can, however, experience challenges as cases proceed through the enforcement process, which can often be lengthy and complicated. This requires experienced SEC whistleblower lawyers to provide strategic advice, support, and a watchful eye.
Attorneys Scott Silver and David R. Chase are nationally recognized securities lawyers. They have extensive experience representing SEC whistleblowers.Contact Us
If you think you qualify as a whistleblower for the SEC, contact us at 1-800-975-4345. You can also reach out online.