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Red Oak Blog

News that affects your business and ours.
 
Thursday, September 23 2010

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

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