An issuer that would be an investment company as defined in section 3 of the Investment Company Act of 1940 but for section 3(c)(1) or 3(c)(7) of that Act.
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Why is the SEC requiring private fund advisers to register?
November 02, 2018
Title IV of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”) eliminated the private adviser exemption previously available under the Investment Advisers Act of 1940 (“Advisers Act”) and required the SEC to establish Rules requiring advisers to “private funds” to register under the Advisers Act.
