The SEC will consider delaying the registration time frames for Private funds under Dodd-Frank

A letter written on April 8, 2011 by Robert E. Plaze , SEC associate director to David Massey the president of the North American Securities Administrators Association “NASSAA”  indicated that the SEC will consider extending the time for “private funds ” to register with the SEC.

Mr. Robert E. Plaze wrote “ …we anticipate that the Commission will issue those final rules(Dodd-Frank) in advance of July 21. However, given the time needed for advisers to register and come fully into compliance with the obligations applicable to them once they are registered, we expect that the Commission will consider extending the date by which these advisers must register and come into compliance with the obligations of a registered adviser until the first quarter of 2012.”  

Based on the fact that the final rules have not been codified, a majority of the firms still need to work on complying with the such rules and that 1/3 of the firms over $1 billion have still not registered, it is a fair guess that the SEC's consideration will become  fact.