Red Oak Blog
News that affects your business and ours.
Massachusetts’ RIAs Must Obtain Bond
The Massachusetts Securities Division (“MSD”) issued a statement to remind Massachusetts registered advisers who are located in the state and have investment discretion that they must obtain a bond of at least $10,000 from a Massachusetts bonding company. The MSD defines “investment discretion” as the “authority to execute buy or sell transactions.” The MSD will be reviewing the bonding requirements during their routine exams.