Alert October 16, 2012

Goodwin Procter Alert: Filing Deadline Approaches for Exemption from California Investment Adviser Registration

Goodwin Procter’s Private Investment Funds Practice issued a client alert discussing new investment adviser regulations adopted by the California Department of Corporations that eliminate an existing exemption from registration in California for an adviser that has fewer than 15 clients (and meets certain other conditions), and replace it with a new, substantially different exemption that has an October 26, 2012 deadline for action by advisers that intend to rely on the new exemption.