Jack Governale, a partner in the firm's Financial Services Practice, authored an article in The Hedge Fund Journal on the Dodd-Frank Wall Street Reform and Consumer Protection Act and the impact of its sweeping reforms on non-U.S. advisers to private funds. The article explains how the new regulations address previous exemptions under the Investment Advisers Act of 1940 and discusses new recordkeeping and reporting obligations. Mr. Governale writes, "Between now and the effective date for compliance with the [Dodd-Frank] Act, every non-U.S. adviser should be determining whether it is subject to the act, and, if so, whether it will be required to register as an investment adviser with the SEC or comply with the record maintenance and information reporting obligations imposed by the act." ("Applying the Act to Non-U.S. Advisers to Private Investment Funds," June 2011)