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The following regulations are strictly enforced: Regulations Under the Illinois Securities Law of 1953, 130 ILAC 842 (b) (2) and 130 ILAC 843 (b) (2) respectively, state “Any person who has not been registered in any jurisdiction for a period of two years shall be required to comply with the examination requirements of this Section.”.
The following is an overview of various requirements for investment advisers reg-istered with the Illinois Securities Department. Please note that this is not a com-plete listing of all legal requirements under the Illinois Securities Law of 1953 or its Administrative Rules.
Investment adviser representatives must pass a qualifying examination and be registered with the Illinois Securities Department. Other frequently used terms to describe persons rendering these types of services include: financial planner, money manager, financial consultant, asset allocation analyst, and fee-only planner.
Becoming a stockbroker in Illinois will require you to register as a brokerage salesperson with the Illinois Securities Department, the Securities and Exchange Commission (SEC), and an SEC-recognized self-regulatory organization (SRO).
Here is a brief summary of certain requirements of an investment advisor firm registering in Illinois. Registration Fees: Initial State Registration of Investment Advisor Firm: $400. Renewal State Registration of Investment Advisor Firm: $400. Investment Adviser Representative Registration: $150.
a) Examination Requirements. Any person applying to be registered as an Investment Adviser Representative under the Act shall provide the Secretary of State with proof of obtaining a passing score on one of the following examinations: 1) The Uniform Investment Adviser Examination (Series 65 examination); or.
23 lip 2024 · To register an RIA in Illinois in 2024, you will need to submit the documents listed below and pay an initial firm filing fee to Illinois’s Securities Division. Please verify the current fee structure, as it may have changed. Required Documents for Approval.
