Under the Dodd-Frank Act passed last year, private fund managers with assets under management of $150 million or more will be required to register as investment advisers with the SEC. Private fund managers with assets under $150 million or venture capital fund managers will not be required to register. However, under SEC rules, these exempt managers must still file a truncated Form ADV. This article explains what is required of so-called "exempt reporting advisers."
Read the Article at:
What exactly does being exempt from Investment Adviser registration under Dodd-Frank mean?