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**UPDATE**

On January 30, the US Securities and Exchange Commission (SEC) postponed until Tuesday, 6 February the open meeting during which it plans to adopt a final version of the amendments to the definitions of 'dealer' and 'government securities dealer'. The meeting had previously been scheduled for Wednesday, 31 January. 

The SEC has announced its intention to vote on February 6 on amendments to the definitions of “dealer” and “government securities dealer” that were proposed in March 2022. If these rules are adopted similar to or as proposed, they will have significant impacts for many commonly used hedge fund strategies, investment advisers, investors and markets. Specifically, hedge funds and, potentially, advisers will be required to register as dealers or government securities dealers if they meet one of three qualitative standards or as government securities dealer if a separate quantitative standard is met. Unless hedge funds and advisers are completely exempt from the scope of the rule, managers will need to assess the final rule to determine whether any of their trading strategies or aggregation thereof implicates registration.

Please join us for this first-look overview of the final rules and what they may mean for the hedge fund industry.

Our panel of speakers include:

• Daniel Austin, Head of US Markets Policy and Regulation, AIMA
• Jennifer M. Dunn, Partner, Schulte Roth & Zabel
• William J. Barbera, Partner, Schulte Roth & Zabel
• Derek N. Lacarrubba, Special Counsel, Schulte Roth & Zabel