The regs they are a-changin’ for mid-sized investment advisors.
Effective July 21, the Securities and Exchange Commission said that any new investment advisor who is managing more than $25 million and less than $100 million will have to join smaller investment advisors in registering with the state regulatory authority where she or he is based. The only exceptions are New York and Wyoming where, because those states don’t require any examination of investment advisors, all investment advisors would still have to register with and be regulated by the SEC.
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