Alert November 16, 2010

Implications of Dodd-Frank for UK and EU Fund Managers and Advisers

While many US advisers are grappling with the implications of the Dodd-Frank Wall Street Reform and Consumer Protection Act, many non-US advisers are perplexed about whether and how it may affect them.  Many UK and EU investment managers and advisers (including those in the private equity, hedge fund and real estate sectors) will be required to register with the SEC even if they are already authorized by the UK Financial Services Authority or another EU regulator.  Goodwin Procter and Travers Smith LLP have coauthored a memorandum providing general guidance for non-US entities on the new registration requirements, their potential impact and steps firms should be taking.