Insights & Publications
Diversity & Inclusion
© 2021 Debevoise & Plimpton LLP
Amendments to The Advisers Act Performance Fee Rule
27 February 2012
The SEC adopted amendments that adjust for inflation the standards for the qualification of advisory clients and investors as "qualified clients" under Rule 205-3 of the Investment Advisers Act of 1940, the rule that permits a registered investment adviser to charge performance fees to "qualified clients."
The SEC also adopted amendments to Rule 205-3 that permit adjustments for inflation in the future and adjust the definition of "qualified client" to exclude the value of the primary residence from the net worth test.
The SEC has adopted a transition rule that allows an investment adviser and its clients to maintain existing performance fee arrangements that were permissible when the advisory contracts were entered into.
Private Equity Buyouts & Other Investments
Private Equity Firms and Funds
Kenneth J. Berman
Michael P. Harrell
UK Modern Slavery Act Transparency Statement
Debevoise Login (2)
Debevoise Women's Review