• Proposed New SEC Registration Rules Affecting Private Investment Funds and Their Investment Advisers
  • December 6, 2010
  • Law Firm: Drinker Biddle Reath LLP - Philadelphia Office
  • The Securities and Exchange Commission (SEC) proposed several new rules November 19, 2010, implementing certain provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank 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 Dodd-Frank Act’s exemption for venture capital funds, private fund advisers with less than $150 million in assets under management and foreign private advisers.