Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Tuesday, November 29, 2011

NASAA Launches Coordinated Review Program for Investment Advisers

NASAA announced that it has developed a coordinated review program for investment advisers switching from federal to state securities regulatory oversight as mandated by the Dodd-Frank Act, which requires investment advisers with assets under management of between $25 million and $100 million to switch from federal to state registration by mid-2012.

The Investment Adviser Coordinated Review Program is open to SEC-registered investment advisers switching their registration to between four and 14 states. (Under Dodd-Frank, investment advisers registered in 15 or more states can remain with the SEC.) To participate in the program, eligible investment advisers must complete and submit the Coordinated Review Form found in the IA Switch Resource Center on the NASAA website, in addition to filing all materials required by the states in which the adviser is applying for registration.  The states where the investment adviser has filed a registration application will conduct a coordinated review of the investment adviser’s registration materials. Advisers will be subject only to the filing fees specified by the states in which the investment adviser is applying for registration.

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Why would investment advisers would want to switch their registration.

Posted by: Ed Butowsky Personal Investing | Mar 8, 2012 6:31:39 PM

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