VANCOUVER, B.C. (September 9, 2024) – The North American Securities Administrators Association (NASAA) today released its annual report on the state-registered investment adviser industry and the related regulatory activities of state securities regulators.
“The report shows continued growth in the number of state-registered investment advisers in communities large and small across the U.S. Many of these advisers are small- and mid-sized businesses, and our goal is to help them serve their clients while ensuring they understand and comply with state securities laws,” said NASAA President Claire McHenry.
NASAA’s 2023-2024 Investment Adviser Section Annual Report provides a snapshot of:
- The investment adviser population in the United States;
- The profile of the average state-registered investment adviser;
- The work NASAA’s Investment Adviser Section has undertaken during the report’s timeframe.
The report highlights the important regulatory policy work, education and training, and coordination efforts of NASAA’s Investment Adviser Section Committee and Project Groups. The report includes initiatives overseen by the Cybersecurity and Technology Project Group to promote the adoption and development of NASAA cybersecurity model rules and support investment advisers’ cybersecurity efforts and effective use of technology.
“These initiatives are part of our ongoing efforts to help state securities regulators better assist state-registered investment advisers in prioritizing security and effectively using technology to enhance investor protection,” said Alisa Goldberg, Director of the Florida Office of Financial Regulation and Chair of NASAA’s Investment Adviser Section.
Other highlights of the report include an updated profile of state-registered investment advisers and showcases proactive outreach initiatives to state-registered investment advisers by NASAA member agencies.
State securities regulators have regulatory oversight responsibility for 16,897 investment advisers with assets under management of $100 million or less. States also have oversight of all investment adviser representatives, the financial professionals who work directly with retail investors, whether the adviser is registered with a state or with the SEC.
The report is available on NASAA’s website here.
– NASAA–
About NASAA:
Organized in 1919, the North American Securities Administrators Association (NASAA) is the oldest international organization devoted to investor protection. NASAA is a voluntary association whose membership consists of the securities regulators in the 50 states, the District of Columbia, Puerto Rico, Guam, the U.S. Virgin Islands, the 13 provincial and territorial securities regulators in Canada, and the securities regulator in México. For more information, visit www.nasaa.org.
For More Information:
Fred Baldassaro, Director of Communications
fbaldassaro@nasaa.org | 202-737-0900
Karen Grajales, Manager, Communications and Investor Outreach
kgrajales@nasaa.org | 202-737-0900
