SEC Adopts Final Dodd-Frank Advisers Act Requirements but Delays Implementation until 2012

27 June 2011
View Client Update

Key takeaways 

  • The SEC approved an exemption from registration that will permit investment advisers currently relying on Section 203(b)(3) of the Advisers Act (including most private fund advisers) to defer registration until March 30, 2012. 
  • The SEC adopted final rules relating to (i) the registration of private fund advisers under the Advisers Act and (ii) the new Advisers Act exemptions for venture capital fund advisers, certain small private fund advisers and foreign private advisers.