NASAA Report: "The IA Switch" (with Lofchie Comment)

NASAA published the attached report documenting the "IA Switch," which led to the regulatory transfer of more than 2,100 investment advisers from federal to state oversight. The switch occurred as a result of the assets under management ("AUM") threshold for state regulation of investment advisers being raised from $25 million to $100 million, and stemmed from Dodd-Frank Section 410 ("State and Federal responsibilities; asset threshold for Federal registration of investment").

Lofchie Comment: Essentially, the piece says that the states will do a better job of regulating investment advisers than the SEC did.

Click here to view report in full (links externally to NASAA website).