Possible Dodd-Frank Compliance Date Extension for Investment Advisers

Summary: The Securities and Exchange Commission (“SEC”) signaled that the SEC may extend the registration deadline for (i) investment advisers currently exempt from U.S. registration to register as investment advisers and (ii) investment advisers who are currently registered who will no longer be eligible for SEC registration to transition to state registration, for six months beyond the current compliance date of July 21, 2011. The attached Client Alert examines who will have to register and the possible extension of the registration deadline.