Successor Rules for Registered Investment Advisers

Successor Rules for Registered Investment Advisers

The Successor Rules for registered investment advisers in the Securities Exchange Act of 1934 allows for the legitimate transfer business between two or more entities. Succession can occur when one entity acquires substantially all of the assets and liabilities of an existing RIA, and is able to rely on a predecessor’s registration as an investment adviser with the SEC. In a guidance update, the SEC defines the instances where succession is applicable: A change of the state or territory in which a business is organized and/or a change in its form of organization; A change in control or a change Read more about Successor Rules for Registered Investment Advisers[…]