Differences Between State and SEC Regulation of Investment Advisors
States may impose licensing or registration requirements on IARs doing business in their jurisdiction, even if the IAR works for an SEC-registered firm. States may investigate and prosecute fraud by any IAR in their jurisdiction, even if the individual works for an SEC-registered firm.
SROIIA Launches State Web Tool in Anticipation of ‘Switch’
The SROIIA, which was founded by two University of Mississippi School of Law students last March, announced Wednesday that it had created a web tool to help advisors wade through the registration requirements for each state.