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Private Trustees Beware: A Review Of The Sweeping New Sec Registration Requirements Under The Dodd-Frank Wall Street Reform And Consumer Protection Act, Christopher M. Reimer
Private Trustees Beware: A Review Of The Sweeping New Sec Registration Requirements Under The Dodd-Frank Wall Street Reform And Consumer Protection Act, Christopher M. Reimer
Christopher M. Reimer
Many private trust companies and other trustees of private trusts may not realize the possibility that the Dodd-Frank Act requires them to register as investment advisers with the Securities and Exchange Commission. The private adviser exemption upon which many trustees once relied no longer exists. Trustees must now determine whether federal law classifies them as investment advisers and either register with the SEC or fit into one of the exemptions provided by federal law. This article describes how trustees may become subject to mandatory SEC registration after Dodd-Frank and various ways in which they can become exempt from registration. In …