Category Archives: Credit Union

Federal Credit Union Must Utilize CUSO to Register as Investment Adviser

August 17, 2009

Recently the National Credit Union Administration (“NCUA”) has issued guidance regarding the offer of investment advisory services by federal credit unions. Specifically, the NCUA has stated that the employee of a federal credit union may not provide investment advisory services that would subject that employee or the federal credit union to federal or state securities laws, and has noted that the regulation and oversight of investment advisory services is conducted by the SEC, and by the states, pursuant to the Investment Advisers Act of 1940.

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