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Law to Speed Advisor Registrations

Sunday, April 21, 2013

On Tuesday, a state senate committee unanimously approved a bill that would make Florida a “notice-filing” state, which means that representatives of out-of-state SEC registered financial firms seeking to do business in Florida would be automatically approved upon filing their application, and at that point could immediately begin offering advice to clients in the state. Final passage would bring Florida in line with almost every other state’s registration process. Only five states aside from Florida — Connecticut, Maine, Nevada, Texas and Vermont — haven’t adopted a notice-filing system. Please click here to read the full story.

About Red Oak Compliance Solutions

Red Oak Compliance Solutions is the global advertising review software of choice in the financial services industry. It is a comprehensive suite of SEC 17A-4 compliant features that are 100% books and records compliant and provides clients with 35% faster approvals and 70% fewer touches or better. We also offer Smart Review(SM), which solves for the storage and maintenance of disclosures, helping firms reduce risk, decrease review times, and increase the speed of distribution of marketing materials. Smart Registration(SM) automates the licensing and registration management process to help reduce regulatory risk and time spent on manual processes. Overall, Red Oak allows firms to minimize risk, reduce costs, and increase compliance review process effectiveness and efficiencies.

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