The key to doing anything well is to figure out the critical questions to ask, right from the beginning.

Today, an institutional real estate investor may wonder, “What’s this rigmarole about SEC registration, and how does it affect me?” Well, when the Dodd-Frank Wall Street Reform and Consumer Protection Act was passed in 2010, it set in motion changes that could significantly alter the American financial regulatory environment. Previously, investment fund managers could avoid registration with the Securities and Exchange Commission (SEC) by limiting the number of funds they advised to less than 15. The Dodd-Frank Act repealed this exemption and replaced it with a general requirement that advisers managing assets worth $100 million or more must register with the SEC unless they fall within one of several quite limited exemptions. U.S. advisers to large securities funds will need to register with the SEC