Private Fund Investment Advisers Registration Act of 2010
Mondaq Business Briefing › United States Law Articles in English (2010)
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Private Fund Investment Advisers Registration Act of 2010
On June 30, 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act") passed the House of Representatives and is now heading to the Senate floor with the expectation of enactment soon after the Independence Day holiday. Title IV of the Dodd-Frank Act codifies the Private Fund Investment Advisers Registration Act of 2010 (the "Registration Act"), which significantly alters the regulatory landscape for advisers to certain private funds. Not only does the Registration Act change investment adviser registration requirements and exemptions under the Investment Advisers Act of 1940, as amended (the "Advisers Act"), it also shifts the jurisdiction for federal and state responsibilities in regulating investment advisers, mandates additional governmental studies and rulemaking regarding private funds and increases regulation of private funds managed by investment advisers registered with the Securities and Exchange Commission (the "SEC") by requiring records and reports of those funds and increasing thresholds for fund investor qualifications. A summary of the material ...
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