California Securities Regulation Division Is Currently Conducting Online Examinations of State Registered Investment Advisers

October 25, 2018

RIA Compliance Consultants was recently made aware that the California Department of Business Oversight – Securities Regulation Division is conducting “Online Written Examinations” of investment adviser firms registered with the State of California regardless of whether or not the investment adviser firm has offices located in California.

This online exam asks fairly general questions about the investment adviser firm and its business operations.  It is our experience that these general investment adviser exams are used by state securities regulators to assess an investment adviser firm’s overall risk level or identify certain practices for further examination by the state securities regulator. It’s important to keep in mind that this general online examination in California could lead to a more in-depth traditional investment adviser exam.

RIA Compliance Consultants has made a copy of the California “Online Written Examination” available to all of it’s annual compliance program clients through the client’s online subscription account with RIA Compliance Consultants under the “Exam Docs” tab.  If your investment adviser firm is an annual compliance program client of RIA Compliance Consultants, you can access your online subscription account here.

If you have any questions about preparing for and surviving an investment adviser examination by securities regulator, we have several sample forms addressing this topic such as our SEC Exam – Best Practices Checklist.

If your investment adviser firm is not currently an annual compliance program client of RIA Compliance Consultants and would like to learn more about our services, please contact our business development team for an introductory call by clicking here.

Posted by Grant Parr
Labels: California Investment Advisor, Examination, Regulatory Exam, Sample Forms