Compliance Solutions for Investment Advisers

Minnesota IARs of SEC Firms Now Required To Register

Prior to now, investment adviser representatives of SEC-registered investment advisers that were located in Minnesota did not have to register with state regulators (unless that had an office in the state). An Order dated October 31, 2013, has been issued by the Minnesota Department of Commerce regarding the “Implementation of Registration Process for Investment Adviser Representatives.”  According to this Order, the initial registration period in Minnesota for investment adviser representatives is November 1, 2013 through January 31, 2014.  Under Minnesota law, the application for initial registration as an investment adviser representative is made by completing Form U4 and filing the Form U4 with the IARD.

line