{"abstract":"The Securities and Exchange Commission is adopting a new rule that prohibits advisers to pooled investment vehicles from making false or misleading statements to, or otherwise defrauding, investors or prospective investors in those pooled vehicles. This rule is designed to clarify, in light of a recent court opinion, the Commission's ability to bring enforcement actions under the Investment Advisers Act of 1940 against investment advisers who defraud investors or prospective investors in a hedge fund or other pooled investment vehicle.","action":"Final rule.","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2007/08/09/E7-15531.html","cfr_references":[{"chapter":null,"citation_url":null,"part":275,"title":17}],"citation":"72 FR 44756","comment_url":null,"comments_close_on":null,"correction_of":null,"corrections":[],"dates":"Effective Date: September 10, 2007.","disposition_notes":null,"docket_ids":["Release No. IA-2628","File No. S7-25-06"],"dockets":[],"document_number":"E7-15531","effective_on":"2007-09-10","end_page":44763,"executive_order_notes":null,"executive_order_number":null,"explanation":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2007/08/09/E7-15531.xml","html_url":"https://www.federalregister.gov/documents/2007/08/09/E7-15531/prohibition-of-fraud-by-advisers-to-certain-pooled-investment-vehicles","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/E7-15531?publication_date=2007-08-09","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2007-08-09/E7-15531/mods.xml","not_received_for_publication":null,"page_length":8,"page_views":{"count":498,"last_updated":"2026-04-04 18:15:03 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2007-08-09/pdf/E7-15531.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":null,"publication_date":"2007-08-09","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2007/08/09/E7-15531.txt","regulation_id_number_info":{"3235-AJ67":{"issue":"200710","html_url":"https://www.federalregister.gov/regulations/3235-AJ67/prohibition-of-fraud-by-advisers-to-certain-pooled-investment-vehicles","title":"Prohibition of Fraud by Advisers to Certain Pooled Investment Vehicles","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=200710&RIN=3235-AJ67&operation=OPERATION_EXPORT_XML","priority_category":"Substantive, Nonsignificant"}},"regulation_id_numbers":["3235-AJ67"],"regulations_dot_gov_info":{"checked_regulationsdotgov_at":"2011-11-12T22:20:09Z"},"regulations_dot_gov_url":null,"significant":false,"signing_date":null,"start_page":44756,"subtype":null,"title":"Prohibition of Fraud by Advisers to Certain Pooled Investment Vehicles","toc_doc":"Pooled investment vehicles, investor protections; prohibition of fraud by advisors","toc_subject":"Securities and investment advisers:","topics":["Reporting and recordkeeping requirements","Securities"],"type":"Rule","volume":72}