Books and Records Infractions Still Big Problem for State-Registered Advisors
Other top problem areas for state-registered advisors: contracts, registration, fees and custody.
‘Big Switch’ RIAs Now Regulated by States Exhibit Similar Deficiencies on Exams: NASAA
A NASAA report on advisors who switched from SEC to state oversight shows deficiencies similar to smaller RIAs who had been regulated by the states.
Slew of Advisor Violations Found by State Regulators
A series of coordinated exams of 825 investment advisors by 45 state and provincial securities examiners between Jan. 1 through June 30 of this year uncovered 3,543 deficiencies in 13 compliance areas.