NASAA Eases Way For Advisers Moving To State Oversight

Law360, New York (November 29, 2011, 3:31 PM EST) -- The North American Securities Administrators Association on Tuesday unveiled a coordinated review program for investment advisers required by financial industry reform laws to switch from federal to state securities regulatory oversight.

The Dodd-Frank Wall Street Reform and Consumer Protection Act mandates that investment advisers with assets under management of between $25 million and $100 million that operate in fewer than 14 states must move from federal to state registration by mid-2012. Investment advisers registered in 15 or more states can remain with the U.S. Securities Exchange...
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