• SEC Extends Deadline for Registration by, and Establishes Certain Exemptions from such Registration for, Non-U.S. and U.S. Advisers
  • July 20, 2011
  • Law Firm: Kaye Scholer LLP - New York Office
  • On June 22, 2011, the U.S. Securities and Exchange Commission (the “SEC”) held an open meeting and approved new rules implementing certain provisions of Title IV of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”) regarding investment advisers. The new rules implement as of July 21, 2011, the exemptions contemplated by the Dodd-Frank Act to replace the eliminated private client adviser exemption, including, exemptions for private fund advisers, non-U.S. private advisers and advisers to venture capital funds.