Proposed Commission Interpretation Regarding Standard of Conduct for Investment Advisers; Request for Comment on Enhancing Investment Adviser Regulation

The Securities and Exchange Commission (the "SEC' or the "Commission') is publishing for comment a proposed interpretation of the standard of conduct for investment advisers under the Investment Advisers Act of 1940 (the "Advisers Act' or the "Act'). The Commission also is requesting comment on: Licensing and continuing education requirements for personnel of SEC- registered investment advisers; delivery of account statements to clients with investment advisory accounts; and financial responsibility requirements for SEC-registered investment advisers, including fidelity bonds.