New numbers tracking regulatory deficiencies among investment advisers indicate advisers successfully navigated a Dodd-Frank-mandated switch from federal to state oversight.
Title IV of the Dodd-Frank Act raised the threshold for Securities and Exchange Commission registration to $100 million by creating a new category of advisers called “mid-sized advisers.” About 2,100 mid-sized investment advisers with assets under management between $30 million and $100 million switched from federal to state oversight earlier this year, according to the North American Securities Administrators Association (NASAA).