Tuesday, June 26, 2012

RIA State Registration Deadline Approaches

This Thursday is the deadline for mid-sized RIAs who no longer meet the $90 million AUM number to register with their states rather than the SEC, and it appears that many have not done so. Financial-planning.com sys that hundreds of medium-size RIAs are procrastinating and have not made their state registrations.

Despite numerous messages from the SEC, it appears that many advisors have not made the registration filings, and there is no guarantee that the state will accept the filings, even if filed on time.

With roughly 2,500 RIAs affected by the change in registration requirements, there could be a signficant number who are going to be late, and who may face issues with not being registered with any regulator, a potential violation of state and federal law.

If you are one of the firms that has not made your state filings, contact us at info@seclaw.com and we will see if we can assist you with your registration, or help you find someone to help you with the process.

Financial-planning.com has more details at Procrastinating RIAs Could Face SEC De-Registration

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