Title IV–Regulation of Advisers to Hedge Funds and Others

Section 401— Short Title (See Note to 15 U.S.C. § 80b-20)

Section 402 — Definitions. (amended Section 202 of the Investment Advisers Act of 1940)

Section 403 — Elimination of private adviser exemption; limited exemption for foreign private advisers; limited intrastate exemption (amended Section 203 of the Investment Advisers Act of 1940)

Section 404 — Collection of systemic risk data; reports; examinations; disclosures (amended Section 204 of the Investment Advisers Act of 1940)

Section 405 — Disclosure provision amendment (amended Section 210 of the Investment Advisers Act of 1940)

Section 406 — Clarification of rulemaking authority (amended Section 211 of the Investment Advisers Act of 1940)

Section 407 — Exemption of venture capital fund advisers (amended Section 203 of the Investment Advisers Act of 1940)

Section 408 — Exemption of and record keeping by private equity fund advisers (amended Section 203 of the Investment Advisers Act of 1940)

Section 409 — Family offices (amended Section 202 of the Investment Advisers Act of 1940)

Section 410 — State and Federal responsibilities; asset threshold for Federal registration of investment advisers (amended Section 203A of the Investment Advisers Act of 1940)

Section 411 — Custody of client assets (added Section 223 to the Investment Advisers Act of 1940)

Section 412 — Comptroller General study on custody rule costs

Section 413 — Adjusting the accredited investor standard (See Note to 15 U.S.C. § 77b)

Section 414 — Rule of construction relating to the Commodities Exchange Act (added Section 224 of the Investment Advisers Act of 1940)

Section 415 — GAO Study and Report on Accredited Investors

Section 416 — GAO study on self-regulatory organization for private funds

Section 417 — Commission Study and Report on Short Selling

Section 418 — Qualified Client Standard (amended Section 205 of the Investment Advisers Act of 1940)

Section 419 — Transition period (See Note to 15 U.S.C. § 80b-20)