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Rulemaking · SEC · Aug 23, 2023

Private Fund Advisers; Documentation of Registered Investment Adviser Compliance Reviews

The private-fund-adviser rules imposed new disclosure, audit, and fairness requirements on advisers to hedge funds and private equity funds. The Fifth Circuit vacated them in 2024.

Docket or bill
Release IA-6383
Official record
https://www.sec.gov/rules-regulations/2023/08/s7-03-22
Tracked as
Private Fund Advisers; Documentation of Registered Investment Adviser Compliance Reviews
Issued by
Securities and Exchange Commission

Traceable spending around this event

Tracked giving from finance banking donors in the year before the event, and lobbying on FIN issue codes in the surrounding window. These are partial, tracked figures scoped to a window, not totals for the industry.

Giving window: Aug 23, 2022 – Aug 23, 2023. Donation records in this database currently run through Aug 12, 2026; lobbying filings through 2026. Figures computed Sep 14, 2026.

Tracked giving (finance banking)

$35,656,879

3,174 donations

Opposition spending

$0

independent expenditures against

Lobbying (FIN)

$584,502,247

1,315 filings

Positions on record

9

from the relationships graph

Tracked giving (finance banking)$35,656,879
Lobbying (FIN)$584,502,247

Of tracked giving, $312,000 was independent expenditures supporting and $0 opposing; the remainder is direct contributions with no stated direction.

Positions

Top lobbying on these issues

Clients with the most reported lobbying spend on FIN issue codes in the window around the event. Lobbying reports cover multiple issues, so spend is not attributable to this event alone.

Figures are drawn from tracked FEC donations and Senate LDA lobbying disclosures held in this database. See the methodology for how spending is scoped to an event window.