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The recent signing of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Act”) into law further evidences that significant changes to U.S regulation of the financial services industry are upon us. Although the guidelines for implementation of the provisions of the Act have yet to be formulated by the various councils and bureaus charged with oversight and reform, it is imperative that participants in the hedge fund industry develop a strategy for dealing with the pending changes.

Summarised in the attached are some of the key sections of the Act that are expected to have considerable impact on the hedge fund industry.
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