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The Investment Company Act of 1940 (commonly referred to as the '40 Act) is an act of Congress which regulates investment funds. It was passed as a United States Public Law ( Pub. L. 76–768 ) on August 22, 1940, and is codified at 15 U.S.C. §§ 80a-1 – 80a-64 .
Launches of liquid alts funds tripled from 2009 to 2013. [2]Major drivers for the growth in liquid alternative funds include: "The 2008 crisis has fundamentally changed investors’ priorities from a main emphasis on investment returns and alpha generation to an emphasis on diversification and downside protection (or principal preservation), especially in the case of a steep market downdraft" [3]
The George W. Bush administration put the Continuity of Operations plan into effect for the first time directly following the September 11 attacks.Their implementation involved a rotating staff of 75 to 150 senior officials and other government workers from every federal executive department and other parts of the executive branch in two secure bunkers on the East Coast.
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The Investment Advisers Act (IAA) was passed in 1940 to monitor those who, for a fee, advise people, pension funds, and institutions on investment matters. Impetus for passage of the act began with the Public Utility Holding Company Act of 1935 , which authorized the Securities and Exchange Commission (SEC) to study investment trusts.
A key provision of UPMIFA states that: "Subject to the intent of a donor expressed in the gift instrument an institution may appropriate for expenditure or accumulate so much of an endowment fund as the institution determines is prudent for the uses, benefits, purposes, and duration for which the endowment fund is established. [7]
This compliance requirements is one of the most important sections, because it covers cost accounting policies, expenses and expenditures, and actual use of federal funds to administer a federal assistance program. In other words, it provides the basis and principles recipients must adhere to when spending federal funds.
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