The Securities and Exchange Commission proposed several new rules November 19, 2010, implementing certain provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Several of these new rules affect private investment funds and their investment advisers by: (1) facilitating federal registration and reporting requirements of advisers to hedge funds and other private funds; (2) clarifying the reporting requirements of certain advisers exempt from registration and (3) clarifying which advisers will fall within the Act’s exemption for venture capital funds, private fund advisers with less than $150 million in assets under management and foreign private advisers.

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Source: Private Fund Alert
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