The Dodd-Frank Wall Street Reform and Consumer Protection Act contains a broad range of provisions that will impact advisers, including non-US advisers, to private investment funds. Many advisers previously exempt from registration will now be required to register with the Securities and Exchange Commission (SEC) and new data collection requirements will be imposed on both registered and unregistered advisers. Advisers will also need to be alert to other provisions of Dodd-Frank including, for example, those governing systematically significant non-bank financial companies and derivatives trading, and the so-called Volcker Rule.
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Reprinted with permission from Financier Worldwide Magazine.