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On January 25, 2011, the US Securities and Exchange Commission (the "SEC") proposed new Rule 204(b)-1 (the "Proposed Rule") under the Investment Advisers Act of 1940, as amended (the "Advisers Act"), to implement certain provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act"
On January 21, 2010, President Barack Obama - along with former Federal Reserve chairman, Paul Volcker - called for new restrictions on the size and scope of banks and other financial institutions to rein in excessive risk taking and to protect taxpayers
On July 15, 2009, the U.S. Department of the Treasury, on behalf of President Obama’s Administration, released the “Private Fund Investment Advisers Registration Act of 2009” (the “Private Fund Act”), which would require investment advisers to “private funds” (including hedge funds and private equity funds) with more than $30 million of assets under management to register with the U.S. Securities and Exchange Commission (the “SEC”) under the U.S. Investment Advisers Act of 1940 (the “Advisers Act”
