RIA state registrations and SEC notice filings

RIA state registrations and SEC notice filings.  As registered investment advisors approach renewal season this is the perfect time of year to review your advisory firm’s current RIA state registrations and SEC notice filings.  Confirming which states your RIA firm is currently registered in or required to be registered in will help with your year-end compliance requirements and your firm’s renewal fees.

State Registered RIA firms:

State registered RIA firms are required to register in states where they have a principal place of business; or where the firm has more than five nature persons as clients.  There are four states that do not recognize this requirement and require RIA firms to register in those states before they take on one nature person as a client.  Those states of New Hampshire, Nebraska, Louisiana and Texas.

Alternatively, your RIA state registered firm may be registered in a state where you no longer have a principal place of business or more than five nature persons as clients.  In those instances, the RIA firm needs to make a decision if it is appropriate to de-register from that state.

SEC Notice filings:

For federally registered RIA firms, the same requirement holds true as with state RIA firms.  That is, your firm is required to notice file in a state where you have an office or more than five clients in that state.  The same four state exception applies for federally registered RIA firms.  As well as no longer notice filing in a state if the firm is not required to.

Make today the day you review your RIA state registrations and SEC notice filings!  Have questions or need help with these filings?  Contract Registered Advisor Services today!

Leave a Reply

Your email address will not be published. Required fields are marked *

XHTML: You can use these tags <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>