Does your investment adviser act as a solicitor for another investment adviser or utilize a third-party as a solicitor of your investment advisory services? If so, your registered investment adviser firm could possibly face regulatory and civil liability risks due to the negligence, misconduct or fraud of this third-party. Learn how your registered investment adviser [...]
Under House Bill 889, the State of New Hampshire recently amended its Uniform Securities Act (RSA 421-B:2) to exempt an individual, who is an investment adviser or investment adviser representative and conducting investment advisory business solely as a solicitor, from the Series 65 examination requirement. Although there is now a statutory provision permitting the wavier [...]
Posted by Bryan Hill
Monday, September 3, 2007
Earlier this month, the California Department of Corporations announced proposed changes to rules regulating investment advisers registered in California. According to the release, the objective in proposing the amendments is to increase uniformity with the model rules suggested by the North American Securities Administrators Association (NASAA), rules already in effect in other states, and rules [...]
Posted by Bryan Hill
Thursday, August 30, 2007
In the most recent quarterly Ohio Securities Bulletin, the Ohio Division of Securities, which is the regulator of state registered investment advisers in Ohio, noted a recent position taken by its sister division, the Ohio Division of Financial Institutions, which regulates banks and mortgage brokers, since it may have implications to registered investment advisers registered [...]
A recent article in Investment Advisor magazine discussed the benefit of using clients as referral sources and the growing practice of using other professionals, such as CPAs and attorneys, to help land clients as well. This article brings to mind the importance of understanding SEC Rule 206(4)-3. (A state registered investment advisor should refer to [...]
Posted by Bryan Hill
Saturday, September 3, 2005
