A recent article on the SEC’s quarterly reporting requirements included quotations from a familiar face.
JTC Group Head of Institutional Services Michael Richards was one of the interview subjects in a new article from FundFire. Published November 8th, 2023, and written by Tom Stabile, “SEC’s Quarterly Reports Rule Will Spark ‘Much More’ Work for Managers” covers the continued efforts of those in the US private funds industry to better understand what it will take to comply with recent changes from the US Securities and Exchange Commission.
We’ve previously covered how on August 23rd, the SEC announced a set of amendments to the Investment Advisers Act of 1940. It’s taken a long time for industry stakeholders to sift through the 656-page rule release, and some provisions are only now being properly understood, among them requirements for quarterly reports that may be a lot less straightforward than they first appeared.
Michael Richards was among those interviewed and offered his expertise on issues such as the need for further guidance from the SEC and why some of the new rules could create additional challenges for complex sectors like fund of funds. We’d like to congratulate Michael on representing JTC in the media and helping those in the industry better understand the new private fund rules and what they may mean for the future.