More Hoosier investment advisers will be regulated by state

October 15, 2011

About 50 of the state’s investment advisers will shift to state oversight under new federal regulations going into effect next summer.

The state currently regulates only investment advisers with less than $25 million under management, while advisers with larger portfolios are overseen by the U.S. Securities and Exchange Commission. Starting in June, the secretary of state will regulate advisers with less than $100 million under management.

That’s expected to bring the number of investment advisers regulated by the secretary of state to 275.

The new rules, adopted as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, require advisers to register with the state or the SEC by next March 30.

Dodd-Frank also repeals registration exemptions for certain investment advisers in Indiana, replacing those exemptions with guidelines outlined in the act. Investment advisers can view other rule changes at the secretary of state’s website: www.sos.in.gov/securities.


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