New Model Rules Pertaining to Investment Adviser Solicitors

NASAA’s Investment Adviser Regulatory Policy and Review Project Group is soliciting comments from the public on a proposed model rule regarding solicitors for investment advisers.

The Proposed Rule keeps intact the increased investor protection standards presently required by the states, while clarifying the conditions under which investment advisers, investment adviser representatives, and solicitors must operate. Additionally, the Proposed Rule provides an optional template for Administrators wishing to exempt solicitors performing limited activities from registration under specified conditions. The Proposed Rule is being provided under the Uniform Securities Act of 1956 and under the Uniform Securities Act of 2002.

The comment period begins on Tuesday, July 28, 2009, and will remain open for 20 days.  All comments should be submitted on or before Monday, August 17, 2009.

Downloads:

Issues & Advocacy, NASAA Proposals, Regulatory Activity, Request for Comment