SEC Staff Indicates That the Commission Is Likely to Extend Key Dodd-Frank Adviser Compliance Dates Until First Quarter of 2012

On 8 April 2011, the SEC Division of Investment Management advised the North American Securities Administrators Association (NASAA) that the Commission is considering extending the registration and compliance deadline until Q1 2012 for advisers relying on the private fund adviser exemption and for mid-sized advisers who must withdraw their SEC registration and instead register with one or more states. White & Case provides an alert on the status of this deadline change and on what can be expected in the coming months.