Check out this News Alert provided by our corporate partner, Haynes and Boone, LLP:

On November 19, 2010, the Securities and Exchange Commission (the “SEC”) proposed new rules and amendments to existing rules and Form ADV under the Investment Advisers Act of 1940, as amended (the “Advisers Act”), that would implement various provisions contained as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”). The SEC’s proposed rules and amendments would, among other things, clarify the eligibility of advisers to register (or remain registered) with the SEC, modify the way advisers calculate their assets under management, establish reporting requirements applicable to certain exempt reporting advisers and require additional disclosures in Form ADV.

To read the full alert, please visit the Publications section of our website.