The SEC’s private fund adviser rules—meant to boost transparency, standardize reporting, and limit conflicts—were voided in June 2024 after a lawsuit challenged the agency’s authority. While regulation is on hold, pressure for better disclosure continues, with groups like ILPA advancing quarterly reporting standards. For fund managers, transparency and data integrity remain critical, not only for compliance but also to build investor trust and compete for capital in an oversaturated market. Technology adoption is key: automation reduces errors in fund accounting, while secure investor portals streamline communications, safeguard data, and enhance client experience.

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