Florida’s Office of Financial Regulation Securities Division Reports on Investment Adviser Registrations Due to Switch

October 25, 2012

In a recent article in the Florida Current, it was reported that 315 investment adviser firms have applied for state registration with Florida’s Office of Financial Regulation Division of Securities due to the new rule of the U.S. Securities and Exchange Commission (“SEC”) requiring mid-sized investment adviser firms to switch from SEC to state registration.  Despite  four administrative positions being cut in the Division of Securities and the resignation of the director of the Division of Securities, Florida’s Office of Financial Regultion reports that it has approved 149 of the 157 Florida based investment adviser firms that have applied for state investment adviser registration due to the switch; however, there was no reference in the article as to how many of the out-of-state investment adviser registration applications due to the switch that have been approved by the Florida Division of Securities.

Posted by Bryan Hill
Labels: Florida Investment Advisor, Switch from SEC to State