Delayed Compliance with Dodd-Frank Act Adviser Registration

The McGuire Woods Legal Updates blog reports in a recent article, Family Offices May Have More Time: Compliance with Dodd-Frank Act Adviser Registration Delayed, that, according to the SEC, the deadline for registration will probably be delayed until early 2012.  Although the SEC believes it will finish its rule-making on the Dodd-Frank Act on time (by July 21), the SEC's associate director of the SEC's Division of Investment Management believes that the SEC will allow for extra time for compliance.  The McGuire Woods blog post makes it clear that this is based on a letter by an SEC official, and is not an official SEC action.  However, the letter does increase the likelihood that the compliance date will be pushed back.