NASAA Launches Online Resource Center to Help IA Firms Prepare to Switch to State Regulation

BALTIMORE, MD (September 28, 2010) The North American Securities Administrators Association (NASAA) today launched an online resource to help investment adviser firms prepare to switch from federal to state regulation.

The new NASAA IA Switch Resource Center provides a series of resources to keep firms informed of the upcoming registration switch, mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Under the new law, investment advisers with assets under management of less than $100 million will be required to register with and be examined by state securities regulators. The previous threshold had been $25 million. The new law takes effect on July 21, 2011.

“This new online resource reflects our commitment to providing the information investment advisers need to make a smooth switch to state regulation,” said NASAA President and North Carolina Deputy Securities Administrator David Massey.

The IA Switch Resource Center, unveiled at NASAA’s annual conference, includes background information, answers to frequently asked questions and a directory of state contacts. Users of the site also are able to send their questions to NASAA. These questions, in turn, will be used to update the site’s FAQ.

“Communication is a key ingredient to an effective switch process and we want our site to be responsive to the needs of IA firms preparing to change to state regulation,” Massey said.

For more information:
Bob Webster, Director of Communications
202-737-0900

2010 Headlines, Newsroom