Laws & RegulationsQuestion 80 of 110
Generally, an investment adviser managing $110 million or more in assets registers with which regulator?
a.Only the state securities administrator where its office is located
b.FINRA as a member firm
c.The Federal Reserve
d.The Securities and Exchange Commission (SEC)
Explanation
Advisers with assets under management of $110 million or more are generally required to register with the SEC as federal covered advisers, while smaller advisers typically register with the states. The $100 million to $110 million range creates a buffer to reduce frequent switching. FINRA regulates broker-dealers, not investment advisers.
Law Reference: Investment Advisers Act of 1940Practice all 110 questions free — no signup required.
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