Investment Advisers Archives - Page 2 of 3

April 12, 2019

Supreme Court Holds Annuities Are Not “Securities” Subject to Illinois Securities Department Regulation

On March 21, 2019, the Illinois Supreme Court issued its long-anticipated decision in Van Dyke v. White, 2019 IL 121452. The 30-page opinion affirms the 2016 Appellate Court decision, which had overturned a Final Administrative Order from the Illinois Department of Securities…

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July 16, 2018

Michael Wise

July 13, 2018

Investment Advisers

Investment Advisers Lawrence Kamin has decades of experience representing SEC and state-registered RIAs in every aspect of their business. We are intimately familiar with the regulatory and other legal nuances in formation, form ADV and other regulatory filings and updates, operational questions, employment or adviser agreements, revenue sharing arrangements, strategic partnerships with outside businesses, dispute […]

July 12, 2018

Peter E. Cooper

July 12, 2018

John S. Monical

January 1, 2011

When Does A Broker-Dealer Become an Investment Adviser?

The answer to this question is unclear as a result of the SEC interpretation of the statutory broker-dealer exemption from investment adviser registration and changed brokerage and investment adviser business practices in the securities industry. Although the SEC has attempted to clarify the broker-dealer exemption through informal interpretations and a forma Rule 202(a)(11)-1…

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May 1, 2005

Impact on Broker-Dealers From the New SEC Rule Narrowing the Exemption for Broker-Dealers From the Investment Advisers Act

The SEC substantially narrowed the exemption from the Investment Advisers Act of 1940 for broker-dealer activity by adopting a new Rule 202(a)(11)-1. Among the many changes is a requirement that any discretionary account will be considered and advisory account requiring a broker-dealer to register as an investment adviser.

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