The article provides a brief history of hedge fund adviser registration requirements under the Investment Advisers Act, an overview of the hedge fund adviser registration provision included in the Dodd-Frank Act, and a discussion of such provision's impact on private equity and venture capital funds

The Article examines the investor protection/capital formation balance with respect to private placements of securities. Specifically, it details various rule changes that were implemented over the years to enhance capital formation and other events that have occurred over the same timeframe...