Investment Advisers Act of 1940

It is the primary source of regulation of investment advisers and is administered by the U.S. Securities and Exchange Commission.

In addition to the Securities Exchange Act of 1934, which created it, the SEC enforces the Securities Act of 1933, the Trust Indenture Act of 1939, the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Sarbanes–Oxley Act of 2002, and other statutes.

The thrust of the study, which led to the passage of the Investment Company Act of 1940 and the Investment Advisers Act, was to provide a closer look at investment trusts and investment companies.

Along with the Securities Exchange Act of 1934 and Investment Advisers Act of 1940, and extensive rules issued by the Securities and Exchange Commission, it forms the backbone of United States financial regulation.

The Investment Advisers Act of 1940, codified at through, is a United States federal law that was created to monitor and regulate the activities of investment advisers (also spelled "advisors") as defined by the law.

The anti-fraud provisions of the Investment Advisers Act of 1940 and most state laws impose a duty on Investment Advisors to act as fiduciaries in dealings with their clients.

The requirement has been revised on several occasions since then, most notably with the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

The Investment Advisers Act of 1940, codified at through, is a United States federal law that was created to monitor and regulate the activities of investment advisers (also spelled "advisors") as defined by the law.

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.