SEC Commissioner Uyeda Issues Statement on Proposed Rescission of Rule 206(4)-5 Under Investment Advisers Act
September 04, 2026
September 04, 2026
WASHINGTON, Sept. 4 -- The Securities and Exchange Commission issued the following statement on Sept. 3, 2026, by Commissioner Mark T. Uyeda on a proposed rescission of rule 206(4)-5 under the Investment Advisers Act:
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Sixteen years ago, the Commission adopted Rule 206(4)-5 under the Investment Advisers Act ("Advisers Act").[1] Its adoption was hailed as "significantly curtail[ing] the corrupting influence of 'pay to play.'"[2] The sel . . .
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Sixteen years ago, the Commission adopted Rule 206(4)-5 under the Investment Advisers Act ("Advisers Act").[1] Its adoption was hailed as "significantly curtail[ing] the corrupting influence of 'pay to play.'"[2] The sel . . .