All: Regulatory Activity

Washington Securities Division Adopts Rule Regarding Broker-Dealer, Investment Adviser Fees

The Washington Securities Division has adopted a rule to implement a $10 fee increase for initial and renewal applications for registration as an investment adviser, broker-dealer, investment adviser representative, and securities salesperson, in addition to the initial and renewal notice filing fees for federal covered advisers, to defray the costs of administering the Securities Act […]

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Request for Public Comment Regarding a Proposed IA Model Rule for Information Security and Privacy Under the Uniform Securities Acts of 1956 and 2002

September 23, 2018 Download: Notice of Request for Public Comment The North American Securities Administrators Association, Inc. (NASAA) is requesting public comment on a proposed investment adviser model rule to address information security and privacy, a proposed amendment to the investment adviser NASAA model Recordkeeping Requirements rule, and a proposed amendment to the NASAA model […]

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Notice of Request for Public Comments Regarding a Proposed Model Rule to Designate Nationally Recognized Securities Manuals for Purposes of the Manual Exemption and a Proposed Model Rule to Exempt Secondary Trading in Securities Issued by Regulation A-Tier 2 Issuers

July 19, 2018 The North American Securities Administrators Association, Inc. (NASAA) is requesting public comments regarding two proposed model rules that would facilitate secondary trading in securities of issuers about which there is certain publicly available information about the issuer. The first proposed model rule would designate certain sources as nationally recognized securities manuals or […]

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Washington Securities Division Issues Notice of Proposed Rule to Adjust Investment Adviser and Broker-Dealer Fees

The Securities Division of the Washington Department of Financial Institutions has proposed to adjust the filing fees required for initial and renewal applications for registration as an investment adviser, broker-dealer, investment adviser representative, and securities salesperson, in addition to the initial and renewal and notice filing fees for federal covered advisers, upward by $10.00 to […]

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Request for Public Comments Regarding Proposed New State Cover Sheets to Franchise Disclosure Documents

June 14, 2018 The Corporation Finance Section of the North American Securities Administrators Association (NASAA) is seeking public comments on a proposal to revise the instructions in the NASAA Franchise Registration and Disclosure Guidelines for filing the state cover page to Franchise Disclosure Documents. Comments on the proposal are due by July 13, 2018. Download: […]

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Request for Public Comments Regarding Proposed Revisions to NASAA Corporation Finance Statements of Policy

December 18, 2017 The Corporation Finance Section of the North American Securities Administrators Association, Inc. (NASAA) is seeking public comments on revisions to the following NASAA Corporation Finance Statements of Policy: Statement of Policy Regarding Corporate Securities Definitions Statement of Policy Regarding Loans and Other Material Transactions Statement of Policy Regarding Unsound Financial Condition Statement […]

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Request for Public Comment Regarding a Proposed Model Rule Amendment to the Unethical Business Practices of Investment Advisers, Investment Adviser Representatives, and Federal Covered Advisers Model Rule to Include Investment Adviser Account Access Under the Uniform Securities Acts of 1956 and 2002

July 25, 2017 The North American Securities Administrators Association, Inc. (NASAA) is requesting public comment on a proposed model rule amendment to the NASAA model rule on Unethical Business Practices of Investment Advisers and Investment Adviser Representatives and Federal Covered Advisers to address investment advisers accessing client accounts with the client’s own unique identifying information […]

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NASAA Members Adopt Financial Performance Representation Commentary for Franchises

Download:  NASAA Financial Performance Representation Commentary The membership of the North American Securities Administrators Association (NASAA) on May 8, 2017 voted to adopt a Financial Performance Representation Commentary for franchises. The commentary supplements NASAA’s Commentary on the 2008 Franchise Registration and Disclosure Guidelines adopted on April 27, 2009. This NASAA Commentary addresses a number of questions […]

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NASAA Members Vote to Adopt Statement of Policy Regarding Use of Electronic Offering Documents and Electronic Signatures

The membership of the North American Securities Administrators Association on May 8, 2017 voted to adopt a Statement of Policy regarding the Use of Electronic Offering Documents and Electronic Signatures. A copy of the adopted Statement of Policy is available here. Background As technology continues to progress and permeate through more aspects of the securities industry, […]

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Request for Public Comment Regarding a Proposed Model Statute, a Proposed Model Rule, and a Proposed Solicitation of Interest Form to Permit Testing The Waters in Regulation A Tier 1 Offerings

December 7, 2016 NASAA is requesting public comment regarding a proposed model statute and a proposed model rule that would permit testing the waters in Tier 1 offerings conducted under federal Regulation A. In addition, public comment is requested on the accompanying Solicitation of Interest form that would be filed with state securities regulators prior […]

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