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NASAA Resource Helps Investment Advisers Switch from Federal to State Registration
Posted Date: 3/30/2012

Contact: Catherine Lu 
             (702) 486-6982 / 334-7953 

        (Carson City, NV; March 30, 2012) – A coordinated review program to assist investment advisers who must switch registration from the Securities and Exchange Commission (SEC) to state oversight is available on the North American Securities Administrators Association (NASAA) website, says Secretary of State Ross Miller.

The Dodd-Frank Wall Street Reform and Consumer Protection Act requires investment advisers with assets under management of between $25 million and $100 million to switch from federal to state registration by June 28, 2012. Investment advisers must notify the SEC about their eligibility for remaining a federally registered adviser by today, March 30.

The Secretary of State’s Securities Division provided the necessary information to help NASAA launch the online resource that assists investment advisers in identifying individual state registration requirements. Investment advisers who qualify for state registration have until April 30, 2012 to enroll in the coordinated review program, which is open to SEC-registered investment advisers switching their registration to between four and 14 states. Under Dodd-Frank, investment advisers registered in 15 or more states can remain with the SEC.

The online IA Registration Resource is available in the IA Switch Resource Center on the NASAA website at or by clicking here. The resource contains information about individual state registration fees, financial and bonding requirements, requirements for sole proprietorships and branch offices, de minimis requirements and other required documents.

To participate, eligible investment advisers must complete and submit the coordinated review form found in the IA Switch Resource Center on the NASAA website in addition to filing all materials required by the states in which the adviser is applying for registration. There is no additional cost to use the program.

Investment advisers who have questions about Nevada can contact the Secretary of State’s Securities Division at (702) 486-2440.

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