; and (2) revise the rules as necessary to ensure that the disclosures required under the rules reflect contemporary (as of the date on which the rules are revised) trends and characteristics with respect to private investment markets. (d) Public availability Notwithstanding any provision of section 204 of the Investment Advisers Act of 1940 ( 15 U.S.C. 80b–4 ), the information disclosed under the rules issued under subsection (b) shall be made available to the public. . 502. Fiduciary obligations (a) Fiduciary duties under ERISA Section 401(b)(1) of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1101(b)(1) ) is amended— (1) by inserting or a private fund (as defined in section 3 of the Stop Wall Street Looting Act ) before , the assets ; and (2) by inserting or such private fund, as applicable before the period at the end. (b) Prohibition against waiving fiduciary duties Section 211(h) of the Investment Advisers Act of 1940 ( 15 U.S.C. 80b–11(h) ) is amended— (1) in paragraph (1), by striking and at the end; (2) in paragraph (2), by striking the period at the end and inserting ; and