SEC Proposes Rules for the Registration of Hedge Fund and Other Private Fund Advisers

in Hedge Funds, Private Equity, Securities and Exchange Commission, Venture Capital

On November 19, 2010, pursuant to Title IV of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Securities and Exchange Commission proposed rules to implement expanded registration and disclosure requirements for advisers to hedge funds and other private funds under the Investment Advisers Act of 1940, as amended.

Included in the proposed rules, among other items, are a definition of “venture capital fund” for purposes of the venture capital registration exemption, provisions for determining the amount of an adviser’s private fund assets for calculating whether an adviser meets the $150 million de minimis registration exemption, and definitions of a number of terms related to the “foreign private adviser” registration exemption. The proposed rules also increase disclosure requirements for certain advisers to private funds.

To learn more about these developments, please follow this link for an article prepared by Weil’s Jeffrey Tabak, David Kreisler, David Wohl, Kristen Buppert and Joseph Bernardi.

Previous post:

Next post: