VC Law: Episode 19: New SEC Private Fund Adviser Rules with Dalia Blass, Partner at Sullivan & Cromwell LLP and former Director of the Division of Investment Management at the SEC

Host Gary J. Ross and Dalia Blass, senior investment management partner at Sullivan & Cromwell and former Head of External Affairs at Blackrock and Director of the Division of Investment Management at the SEC, discuss the new SEC private fund adviser rules. Gary and Dalia start by discussing how the final rules differ from the proposed rules, and then focus on the rules that relate to venture capital fund advisers in particular, notably the Restricted Activities Rule and the Preferential Treatment Rule. Dalia then discusses the rest of the rules, and concludes by talking about timelines and giving her final thoughts.