This session will focus on federally registered advisers with individual (retail) accounts. As the SEC’s concern for the general public investors grow, it becomes more important for federally registered advisers to better understand the individual investment marketplace at the state level. A NASAA representative and two state securities regulators will provide key insights on state rules and potential overlaps to SEC recent requirements in this session.
• Examine NASAA model rules, and how they impact SEC registered firms, including mandatory continuing education programs and mandatory restitution funds
• Review states’ ongoing fiduciary duty regulatory efforts, including the NAIC, the exercise of these new regulatory powers during this pandemic era, and certain states’ efforts to overturn Reg BI
• Understand the ever-increasing state privacy/data protection statues and regulations, including reporting requirements
• Discuss other key focus areas for state regulators under the Biden administration, including fiduciary obligations, protecting seniors, standardizing fee disclosures, and suitability