Title IV of the Dodd-Frank Act eliminated this private adviser exemption and extended the registration requirements under the Investment Advisers Act to the advisers of these funds.

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This brings the total of advisors to private funds that are registered under the Investment Advisers Act of 1940 to 4, 061, out of a total of 11, 002 advisers across asset classes and investment styles.

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The SEC Complaint charged Peterson with with violations of the anti-bribery, books and records and internal control provisions of the FCPA, and with aiding and abetting violations of the anti-fraud provisions of the Investment Advisers Act of 1940.

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