Perspective
Sep. 27, 2012
New rules attempt to clarify Dodd-Frank exemptions
The California Corporations Commissioner recently adopted a new exemption from registration for certain investment advisers in an attempt to end the uncertainty left by the Dodd-Frank Act. By Barry Brust of Pircher, Nichols & Meeks
In the wake of the Dodd-Frank Act of 2010, advisers that had previously relied on the broad "fewer than 15 clients" exemption from investment adviser registration now need to determine whether or not they are eligible for an exemption in California or must instead register with the state commissioner or the Securities and Exchange Commission.
The California Corporations Commissioner recently adopted a new exemption from regi...
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