Alert December 13, 2011

Massachusetts Securities Division Postpones Hearing on Revised Investment Adviser Registration Exemptions and Related Public Hearing

The Massachusetts Securities Division (the “Division”) postponed until January 5, 2012 and January 6, 2012, respectively, the dates for a public hearing and for submission of public comment on a revised proposal that would phase out a commonly-used exemption from registration as an investment adviser with the Commonwealth and create a new private fund adviser registration exemption.  The revised proposal was discussed in the November 15, 2011 Financial Services Alert.