California Registered Investment Advisers – Are you Ready?

In July 2015, the State of California hired 18 new examiners for its Department of Business Oversight (DBO).  This is the department that examines California registered investment advisers.

As a result I have seen an increase in the number of examinations by the DBO. There seems to be a one to two week notification from the examiner prior to the visit.  The notification is made via telephone.  A list is sent in advance of the visit.  And the adviser is typically told that the the examiner will be in the office for 2-3 days.

If it is a routine exam, which are the type of exams I have seen recently, there is no cost to the exam.

So if you haven’t been examined by the State of California for some time, and you probably haven’t, get prepared.

Advertisements
This entry was posted in Uncategorized and tagged , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s