As part of final rules adopted in June 2011 under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), many advisers to private pooled investment vehicles (funds) that were previously exempt were now required to register with the SEC by March 30, 2012. Two of the primary exemptions to registration include the Venture Capital exemption and the $150 million exemption (small fund exemption). This article provides a brief overview of the primary provisions of those two exemptions. Dodd-Frank Exempt Reporting Advisors
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