In light of the new investment adviser representative (“IAR”) licensing requirement of the State of New York, RIA Compliance Consultants has updated its sample compliance manual section for investment adviser representative licensing in New York.
Tag Archives: Written Policies and Procedures
South Carolina Registered Investment Adviser’s Deadline to Submit their Written Policies and Procedures Manuals
July 24, 2014
The U.S. Securities and Exchange Commission (“SEC”) has a long-standing rule requiring registered investment advisers to develop, maintain and periodically assess written compliance policies and procedures. A majority of state securities regulators also require state registered investment advisers to develop written compliance and supervisory procedures. For example, South Carolina is one of the many states that requires its state registered investment advisers to develop a written compliance manual. South Carolina makes this explicit through the South Carolina Uniform Securities Act Regulation 13-408(A)(19), which is found under the subheading “Record Requirements of Registered Investment Advisers.” This regulation requires a state registered investment advisers to have “…written procedures to supervise the activities of employees and investment adviser representatives that are reasonably designed to achieve compliance with applicable securities laws and regulations.”