The SEC, which continues to tighten its oversight on the asset management industry, said it will require more information from investment advisers regarding their separately managed account businesses. Under the new rules, investment advisers will have to provide data on their use of borrowings and derivatives, as well as information on their use of social media. They will also have to maintain additional records on how they calculate and distribute performance information to help regulators determine the truthfulness of their advertising. "This additional information will provide investors and the commission with a better understanding of the risk profile of each adviser and the industry as a whole," SEC Chair Mary Jo White said. Investment advisers will have until October 2017 to comply with the new requirements.
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