The SEC Brings Investment Advisor Info To The Web
A new Web site offered by the Securities and Exchange Commission and state regulators is aimed at making information about investment advisors more accessible to consumers.
The site–www. adviserinfo.sec.gov–makes it possible for a consumer to access over 9,000 annual filings from investment advisors. The filings include 7,300 advisors registered with the SEC and 1,700 advisors registered with state securities departments.
The Web page will add on more advisors over time, according to Ashley Baker, a spokesman with the National American Securities Administrators Association in Washington, D.C. All but four states are either planning or considering making it mandatory to register through the electronic investment advisor registration depository.
Eventually, information on that database, with the exception of items such as an advisor’s Social Security number, will be available on the SEC’s site, says John Viator, NASAA associate counsel.
Prior to the Web site’s implementation, interested consumers had to work through a SEC public reference branch in order to obtain the same information that they can now access for free on the site, says John Heine, a SEC spokesman.
On Tuesday, Sept. 25, for example, 1,165 consumers visited the site and 3,075 hits were reported by lunchtime on Sept. 26 following press reports on the new site.