Key areas of focus for private fund advisers in 2013
The elimination of the exemption from registration under the Investment Advisers Act of 1940, as amended (the Advisers Act), for advisers with fewer than 15 clients resulted in the registration of approximately 1,500 additional investment advisory firms, many of which are advisers to one or more private funds. With registration behind them, many private fund advisers are ringing in 2013 by expanding their knowledge of existing Advisers Act requirements and familiarising themselves with a host of new regulatory requirements, both in the US and abroad.
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