9-1-1 Emergency Service Protection Act

9-1-1 Emergency Service Protection Act

This bill amends the Investment Advisers Act of 1940 to require a registered investment adviser who advises a private fund that owns a controlling interest in an emergency services company to disclose to the Securities and Exchange Commission, at least annually:

• the change in the average response time of emergency vehicles since the private fund acquired a controlling interest in the company,
• the percentage of response times that failed to meet a response time required by contract or local ordinance, and
• a description of the impact of any such failure on the value of the company to the private fund.