A Comparison of SEC and State Investment Adviser Regulations
While SEC and state regulators share common goals, their requirements can differ in meaningful ways. This whitepaper explores the key similarities and distinctions across registration, compliance programs, advertising, custody, privacy, recordkeeping, and more, helping advisers better understand their obligations and strengthen their compliance framework.
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2026 SEC AND STATE INVESTMENT ADVISOR REGULATIONS WHITEPAPER
What’s inside:
- A side-by-side comparison of SEC and state investment adviser regulations.
- Key differences in registration, examinations, and enforcement practices.
- Insights into advertising, custody, privacy, business continuity, and recordkeeping requirements.
- An overview of state-specific requirements for investment adviser representatives (IARs).
- Considerations for firms that may transition between SEC and state registration.
Navigating a complex regulatory landscape?
Understanding where SEC and state regulations align, and where they differ, can help firms strengthen compliance programs, prepare for regulatory scrutiny, and adapt as requirements continue to evolve.