On July 12, pursuant to Section 418 of the Dodd-Frank Act, the SEC issued an order that raises two of the thresholds that determine whether an investment adviser can charge its clients performance fees pursuant to Rule 205-3 under the Investment Advisers Act. The order increases the dollar amount tests for: (i) assets under management from $750,000 to $1 million; and (ii) net worth from $1.5 million to $2 million. The order will be effective on September 16. SEC Release. SEC Order.