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SEC Proposes Rules to Implement Dodd-Frank Act Regulation of Private Investment Funds and their Managers

November 23, 2010

By The Investment Management Practice

On November 19, 2010, the Securities and Exchange Commission (the SEC) proposed a series of new rules and other regulatory changes (the Proposed Rules) designed to implement a number of significant changes applicable to private investment funds and their managers imposed by the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act).

This Alert summarizes the aspects of the Proposed Rules that are most significant to private investment funds and their managers.