At an open meeting on June 22, the SEC voted to adopt rules substantially as proposed earlier this year that:
• implement provisions of Title IV of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), by requiring certain advisers to hedge funds and other private funds to register with the SEC;
• establish new exemptions from investment adviser registration and reporting requirements for certain advisers; and
• reallocate regulatory responsibility for advisers between the SEC and the states.
Please see full advisory below for more information.
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