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SEC Transitioning Auditing Responsibility to the States for RIAs with less than $100 Million in AUM

Thursday, September 23, 2010
Section 410 of the Dodd-Frank Wall Street Reform and Consumer Protection Act states that an investment adviser with assets under management greater than $100 million will need to register with the SEC, while an adviser with assets under management less than $100 million will need to register in the state in which it maintains its principal office. Those advisers who operate in more than 15 states would be permitted to register with the SEC. This change is effective July 21,2011.
To read the full Act, click here: Dodd-Frank Wall Street Reform Act
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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