With Chris Borg, Jacqui Hatfield, Thao Ngo
Non-U.S. advisers to private investment funds with U.S. investors and/or to U.S. clients, may be required to register with the U.S. Securities and Exchange Commission (the "SEC") under the U.S. Investment Advisers Act of 1940 (the "Advisers Act"), in light of the U.S. Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank"), unless they qualify for an exemption.