The big change RIAs should expect when the SEC punts to the states
Advisors under states see more audits, tougher registration requirements and busybody lawmakers
Bill Winterberg
I was hoping to see info on the number of RIAs regulated by the states mentioned and how many examiners they have on staff to conduct exams. Do they feature similar ratios of examiners to advisers?
If Oregon performs exams on a three-year cycle, then dividing the number of regulated advisers by three years can give us insight on how many exams per week/month the department aims to conduct. Do they have enough staff to meet that workload?
Bill
<a href="http://fppad.com">FPPad.com</a>
Todd E. Schwartz
We are definitely living in interesting times.
I foresee the compliance environment becoming much more rigorous for many SEC RIAs subject to the “switch”. For a minority, compliance oversight will shrink to nothing.
Where are the dollars for increased state enforcement coming from? I’m I correct this is an unfunded federal mandate?
What to do about switched RIAs who currently “notice file” in several states?
The idea of intrastate agreements is creative but I would suggest such states entering into such an agreement should also adopt uniform compliance statutes/regulations.
Todd
<a href="http://ria-law.com" rel="nofollow">www.ria-law.com</a>
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