In March of 2016 the state of Wyoming signed into law its Uniform Securities Act. The biggest take away from Wyoming’s Uniform Securities Act is that Wyoming will require investment advisers to register with Wyoming securities regulators if the investment adviser has less than $100 million Assets Under Management (AUM). The new legislation will take effect on July 1, 2017.
Currently, Wyoming is the only state that does not regulate investment advisers. Investment advisers with main office locations in Wyoming register with the Securities Exchange Commission (SEC) regardless of their amount of assets under management. Several investment advisers had taken advantage of Wyoming’s dearth of investment adviser regulations, claiming Wyoming as home to their principal office location.
If your investment adviser is located in Wyoming or has clients in Wyoming we encourage you to contact your Compliance Consultant at RIA Compliance Consultants. Your Compliance Consultant can walk you through the new legislation and help you determine if you need to register in Wyoming.
Posted by Bryan Hill
Labels: Registration, Uncategorized, Wyoming Investment Advisor