On June 22nd, the SEC adopted new rules and rule amendments under the Advisers Act to implement provisions of Title IV of the Dodd-Frank Act. The rules and amendments increase the statutory threshold for registration with the SEC by investment advisers, require advisers to hedge funds and other private funds to register with the SEC, and require reporting by certain investment advisers that are exempt from registration. SEC Release No. IA-3221; SEC Press Release. See also Paredes Open Meeting Comments (dissenting from adopting the rule because of its reporting requirements for exempt advisers); Casey Open Meeting Comments (dissenting); Walter Open Meeting Comments (concurring but asking SEC staff to revisit in one year, the reporting requirements of exempt advisers).