The State of Washington’s Securities Division is currently seeking comments regarding the possible regulation of professional designations by investment adviser representatives related to senior citizens. It appears that the Washington Securities Division might be following the lead of many other state securities regulators that have expressed concern about the use of a professional designation that [...]
In the first SEC ComplianceAlert issue, the United States Securities and Exchange Commission (SEC) cautioned registered investment advisors against inappropriate performance advertisements and inadequate policies regarding performance advertising. According to the ComplianceAlert article, the SEC discovered numerous deficiencies as a result of a risk-based sweep examination of several registered investment advisors. The most common deficiency [...]
In today’s edition of the Omaha World-Herald, Jack Herstein, deputy director of the Securities Bureau of the Nebraska Department of Banking and Finance, noted that the Securities Bureau has approved eight (8) professional designations for use by registered investment advisers in Nebraska. Those professional designations already approved for use by registered investment advisers in Nebraska [...]
It appears that certain state securities regulators are continuing their investigation of insurance only agents offering equity indexed annuities by focusing upon the use of seminars targeted toward the elderly and underlying training associated with such seminars. As noted in a recent article in Investment News, the Massachusetts Securities Division is scrutinizing various marketing efforts [...]
The Nebraska Securities Bureau recently issued a special notice to all federally covered and state registered investment advisors in Nebraska requesting that “firms prohibit the use of all professional designations that state or imply a specialized knowledge of the needs of senior investors by their … investment adviser representatives registered in Nebraska. This prohibition should [...]
The Massachusetts Securities Division (the “Division”) is proposing a new rule that would prohibit investment advisor representatives from using certain professional designations implying specialized or knowledge associated with seniors. According to the Division, this proposed rule is based on concerns about the use of designations that falsely convey a certain expertise in matters dealing with [...]
Posted by Bryan Hill
Wednesday, November 1, 2006
