tailieunhanh - U.S. Regulatory Actio n Items for Investment Advisers (2013)

Report on the Millennium Development Goals (MDGs) in Zimbabwe pointed out that notwithstanding the poor performance of the economy, Zimbabwe has made relative progress in a number of key areas such as universal primary education. Enrolment in primary schools has consistently been relatively high (with a net enrollment ratio of 91% in 2009 down from in 2002). The rate of HIV infection has also seen an improvement with a decline from percent in 2007 to percent by 2009 partly on account of public awareness programs and education. However, Zimbabwe has experienced a decline in areas such as access to safe drinking water | JANUARY 2013 ONES DAY . REGULATORY ACTION ITEMS FOR INVESTMENT ADVISERS 2013 Happy 2013 to clients and friends of Jones Day We wish you a happy healthy and prosperous new year. Of course a new year brings not only tthe potential for keeping New Year s resolutions but also a new set of obligations and undertakings fot many investment advisers We have outlined ìn Patt I herein some of these obligations for exempt reporting advisers . those relying on the private fund exemption or the venture capita exemption andt in Part II some obligations for investment advisers that are registered with the . Securities and Exchange Commission the SEC . In Part lilt we address certain requirements and undertakings that may be relevant for any investment adviser whether registered filing as an exempt reporting adviser or neither. PART I ANNUAL OBLIGATIONS APPLICABLE TO EXEMPT REPORTING ADVISERS1 ANNUAL FORM ADV UPDATE Each exempt reporting adviser is required to update its Form ADV Part 1 within 90 days of the end ot its fiscal year. In 2013 a non-leap year this deadline is April 1 as March 31 falls on a Sunday fot c z s with December 31 fiscal year-ends. 1 Exempt reporting advisers should be aware oft obligations under the . Investment Advisers Act of 1940 as amended the Advisers Act to t at a minimum a establish and maintain appropriate written policies designed to prevent the misuse of material nonpublic information and b have and enforce policies and procedures to comply wth the Advisers Act s pay to play uule. See Jones Day s February 2012 publication for further information regarding exempt reporting advisers available at http exempt_ reporting_advisers . All web sites herein last visited on January 18 2013. 2013 Jones Day. All rights reserved. Printed in the . TIP You should ensure that your IARD account is adequately funded 150 for exempt reporting advises plus any additional amount s for required state notice fliings2 well in advance of the

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