SEC Adopts Final Rules Implementing Dodd-Frank Investment Adviser Registration Amendments and Extends Compliance Deadline for Registration Until March 30, 2012 | White & Case LLP International Law Firm, Global Law Practice
SEC Adopts Final Rules Implementing Dodd-Frank Investment Adviser Registration Amendments and Extends Compliance Deadline for Registration Until March 30, 2012

SEC Adopts Final Rules Implementing Dodd-Frank Investment Adviser Registration Amendments and Extends Compliance Deadline for Registration Until March 30, 2012

At an open meeting yesterday the US Securities and Exchange Commission ("SEC") voted to adopt new rules that will: (1) establish the new Dodd-Frank Act exemptions from registration for venture capital fund advisers, foreign private advisers and private fund advisers with less than US$150 million in assets in the United States; (2) implement the Dodd-Frank Act adviser registration exemptions and reallocate regulatory responsibility for mid-sized investment advisers; (3) amend Form ADV disclosure requirements for registered investment advisers; (4) impose new reporting requirements for "exempt reporting advisers"; and (5) define "family offices" for purposes of the exclusion from the definition of investment adviser.

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