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SEC Votes to Propose Amendments to Part 2 of Form ADV

February 26, 2008

By The Investment Management Practice Group

On February 13, 2008, the SEC announced that it has proposed amendments to Part 2 of Form ADV, the written disclosure document required to be delivered by SEC-registered investment advisers to clients and prospective clients. Currently, Part 2 of Form ADV utilizes a check-the-box, fill-in-the blank format and although advisers are required to maintain an updated copy in their files for review by the SEC, they are not required to file Part 2 with the SEC.