Commissioner Previews Potential Private Fund Adviser Rule Changes


If you’re reading this blog, then you had a better Ides of March than Julius Caesar did in 44 B.C.E.

In this March 5 post, I reported that the Commissioner of Corporations would be seeking comments on proposed amendments to Rule 260.204.9. Yesterday, the Commissioner issued this Invitation for Comments. As discussed in several earlier posts, Rule 260.204.9 must be amended to reflect the pending elimination of the “private adviser” exemption in Section 203(b)(3) of the Investment Advisers Act of 1940. The Dodd-Frank Act eliminates the “private adviser” exemption effective July 21, 2010.

The Commissioner has proposed the following changes to Rule 260.204.9...

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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