2002 Timberloch Drive, Suite 200
The Woodlands, Texas 77380
Tel: (281) 367-2454
Fax: (866) 338-6353
Email (click here)
Make a payment
6/23/2010
IA Registration and Regulatory Issues
Companies and individuals who provide investment advice to others are generally subject to regulation by federal and or state securities regulators. Therefore, before providing financial advice to anyone, prospective advisers must determine whether registration is required, and if so, what type of registration is appropriate. Where registration is required, it is critical to understand the regulatory requirements related to that registration as well as the on-going regulatory obligations, as the regulatory environment is complex and the ramifications of non-compliance are significant.
This discussion does not purport to address all aspects of the advisory industry or all regulatory requirements affecting an Investment Adviser, as such, it is important to note that this discussion is a summary of key issues we believe material, and is provided for discussion purposes only. The matters affecting the registration and on-going operations of an Investment Adviser are complex and this discussion is not a substitute for engaging legal counsel or any other specialized professionals to discuss all of the facts regarding your proposed activities and individual situation.
5/10/2010
Dual Registration and FINRA Supervision
As the financial services industry has evolved, the supervision of registered persons that are dually registered or affiliated, either with another broker-dealer, an investment adviser or other financial services firm has become increasingly complex. While FINRA speaks regularly about how there is no “one size fits all” approach to compliance, it is clear that supervisory issues related to dual registration have made a standard approach to supervision of these activities an exception. This article focuses specifically on dual affiliations with registered investment advisers. However, note that the concepts related to the supervision of outside investment advisory activities have also been utilized by FINRA to address the sale of variable annuities, promissory notes and the supervision of life settlements. Thus, the same analysis and process should be applied to the approval of any outside business of securities activities.
