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ARTICLE · 13 JANUARY 2011

Dodd Frank Wall Street Reform and Consumer Protection Act

Dillon Eustace
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The Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Act") was signed into law by the US President on 21 July, 2010.

IrelandFinance and Banking
Dillon Eustace
Dillon Eustace
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The Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Act") was signed into law by the US President on 21 July, 2010.

Non U.S. investment advisers to private funds may be required to register with the SEC and comply with certain rules and requirements that are applicable only to SEC registered investment advisers. These requirements include rules and provisions relating to performance fee arrangements, custody of client assets, marketing of advisory services and products, disclosures to the SEC, clients and investors on Form ADV, establishment of a compliance program and appointment of a chief compliance officer.

However, the Act exempts certain foreign private advisers from SEC registration and reporting/recordkeeping requirements. To qualify, advisers must meet all of the following criteria:

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