Regulatory Talk: Preston DuFauchard, California Department of Corporations.

An interview with Preston DuFauchard, commissioner for the California Department of Corporations, is presented. When asked how changes in investment adviser registration under the Dodd-Frank Act has impacted the state, he responds that the elimination of several exemptions from registration under the legislation will increase the number of private advisers. He claims that they are developing a rule for midsized advisers. He mentions an exam exemption for advisers to private funds.