Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Private Fund Advisers; Documentation of Registered Investment Adviser Compliance Reviews".

Bill: 118-hjres-119
Sponsor: full_name: Rep. Mooney, Alexander X. [R-WV-2]
Introduced: 2024-03-21
Policy area: Finance and Financial Sector
Latest action: action_date: 2024-03-21
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2024-03-21
action_desc: Introduced in House
text: <p>This joint resolution nullifies the final rule issued by the Securities and Exchange Commission (SEC) titled <em>Private Fund Advisers; Documentation of Registered Investment Adviser Compliance Reviews</em> and published on September 14, 2023. The rule requires SEC-registered advisers to private funds to disclose information to investors regarding compensation, sales practices, and conflicts of interest. It also requires SEC-registered advisers to give investors independent fairness opinions and valuation opinions when initiating certain private fund transactions.</p><!--tinycomments|2.1|data:application/json;base64,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-->

tv_txt: IA 118th CONGRESS 2d Session H. J. RES. 119 IN THE HOUSE OF REPRESENTATIVES March 21, 2024 Mr. Mooney (for himself, Mr. Meuser , Mr. Ogles , and Mr. Hill ) submitted the following joint resolution; which was referred to the Committee on Financial Services JOINT RESOLUTION Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to Private Fund Advisers; Documentation of Registered Investment Adviser Compliance Reviews .

That Congress disapproves the rule submitted by the Securities and Exchange Commission relating to Private Fund Advisers; Documentation of Registered Investment Adviser Compliance Reviews (88 Fed. Reg. 63206; published September 14, 2023), and such rule shall have no force or effect.