Washington Proposes Amendments to Rules for Investment Advisers

The Washington Securities Division is proposing to amend the rules for investment advisers in Chapter 460-24A WAC.

The proposed rules would update various provisions of the investment adviser rules, including the rules regarding financial reporting requirements, custody, books and records, and unethical practices. The proposed amendments would add new rule sections addressing proxy voting, advisory contracts, and compliance procedures and practices, and would create exemptions from registration for certain private fund advisers and venture capital fund advisers. Many of these changes would make Washington’s rules consistent with current federal law and NASAA model rules.

Click here for a copy of the Proposed Rulemaking (Form CR-102) and here for the text of the proposed amendments, which were filed with the Office of the Code Reviser on March 20, 2013. The Form CR-102 will be published on April 3, 2013 (WSR Issue # 13-07-082). Additional information may be found in the Memo to interested parties – Investment Adviser Rulemaking CR-102.

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Regulatory Activity, State Rule Proposals