- The switch will affect investment advisers with assets under management between $25 million and $100 million with a principal office and place of business in a state where investment advisers are required to be registered and, if registered, are subject to examination.
Who Does Not Switch?
- Investment advisers will remain under SEC oversight if exempt or excluded in a state where their principal office is located.
- Investment advisers in New York and Wyoming are excluded from the switch.
- Investment advisers required to register in 15 or more states can register with the SEC.