Regulating The Business Of Private Fund Advisers

Law360, New York (November 16, 2009, 1:53 PM EST) -- Recently, the House of Representatives Financial Services Committee approved two major proposals, the Private Fund Investment Advisers Registration Act of 2009 and the Investor Protection Act of 2009, and is still considering a third proposal, the Financial Stability Improvement Act of 2009, all of which, if enacted, would greatly increase regulation of U.S. Securities and Exchange Commission registered investment advisers to private funds as well as the funds they manage.

Although the fuss over private fund advisers has generally focused on required SEC registration to close...
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