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Impact of Final Dodd-Frank Rules on the Regulation of Federal and Connecticut Investment Advisers

August 4, 2011

Authors: John H. Lawrence

On June 22, 2011, the Securities and Exchange Commission (“SEC”) approved final rules and rule amendments related to investment adviser regulation under the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”). The final rules substantially change the existing regulation of investment advisers under the Investment Advisers Act of 1940 (the “Advisers Act”) and shift the responsibility for regulating many investment advisers to state securities authorities. In response to the new SEC rules, the Connecticut Banking Department (the “CT Department”) issued three orders on July 11, 2011 clarifying the registration requirements for investment advisers with operations or clients in Connecticut.

This Private Equity Alert provides background on the prior federal and state investment adviser regulatory regime and an analysis of the new registration requirements and transition rules for investment advisers. To view the alert in its entirety, please click here.

If you have any questions regarding investment adviser regulation, please contact a member of our Private Equity Group.

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