Investment Advisers Act Amendments

[AI summary unavailable — showing source text] Investment Advisers Act Amendments - Authorizes the Securities and Exchange Commission to establish standards for investment advisers and their associated persons with respect to training, experience, competence, and such other qualifications as the Commission finds necessary or appropriate in the public interest or for the protection of investors. Provides that the Commission may require persons in any class of investment adviser to pass prescribed tests. Allows the Commission to promulgate rules and regulations to safeguard the public interest and to protect investors with respect to the financial responsibility of investment advisers. Authorizes the Commission to defray the costs of carrying out the requirements of this Act by prescribing reasonable fees and charges. Empowers the Commission to create advisory committees, employ experts, and hold public hearings. Requires the Commission to report to Congress within 18 months from enactment with recommendations for legislation.…