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The SEC requires an investment adviser to register with the SEC if it has assets under management of at least $100 million or the investment adviser provides investment advice to an investment company registered under the Investment Company Act of 1940 (SEC Rule 203A-1).
Through registration and oversight under the law, the DFPI supports a healthy and trusted financial marketplace. The Broker-Dealer and Investment Adviser Division (BDIA) reviews applications for licensure under the California Corporations Code Sections 25210 and 25230 and, if all requirements are met, applicants receive a registration approval.
licensing, AUM is important because it establishes whether an investment adviser must register with the Securities and Exchanges Commission (SEC) or with one or more state regulators.
1) What responsibilities do I have as an investment adviser? As an investment adviser, you are a “fiduciary” to your advisory clients. This means that you have a fundamental obligation to act in the best interests of your clients and to provide investment advice in your clients’ best interests.
12 kwi 2024 · These are the most common securities licenses. You can find a more comprehensive list at the FINRA and NASAA websites. Keep in mind that to earn some of these licenses, like the Series 6 and Series 7, you will need to be sponsored by or work for a broker-dealer.
2 paź 2024 · The Series 63 license is required by most states to sell securities within the issuing state. The Series 7 license is issued by FINRA to sell securities anywhere in the U.S.
1 lis 2024 · WHO IS REQUIRED TO OBTAIN A LICENSE UNDER THE CALIFORNIA FINANCING LAW? In general, any person engaging in the business of a finance lender, a broker, or a program administrator must obtain a license under the California Financing Law. The CFL contains a number of exemptions for persons licensed by other regulatory agencies.
