Advisory Release AR-12-03:
Commissioner’s Proposed Amendment to Missouri’s Private Fund Adviser Exemption
The Commissioner of Securities is issuing this advisory release to alert Missouri’s investment advisers to a proposed rule that would allow certain Missouri private fund advisers to continue operating in this state in compliance with recently-enacted Federal statutory and regulatory changes.
Currently, Rule 15 CSR 30-51.180(6) (the “Private Fund Adviser Exemption”) exempts from registration certain investment advisers in the State of Missouri. The Private Fund Adviser Exemption exempts an advisers if:
1. the adviser provides advice to 15 or fewer clients;
2. those clients are funds qualify for exemptions found at section 3(c)(1) and 3(c)(7) of the Investment Company Act of 1940; and
3. the adviser is exempt under section 203(b)(3) of the Investment Advisers Act of 1940
April 26, 2012
September 6, 2012
The Commissioner of Securities has issued an Advisory Release alerting Missouri's investment advisers and others to a recent report on the Investment Adviser Registration "Switch." Read the release here, and the Report here.
July 3, 2012
The Commissioner of Securities has issued an Advisory Release concerning pending investment adviser registration applications after the Dodd-Frank Act "Switch" deadline. Read the release here.
May 17, 2012
The Commissioner of Securities has issued an Advisory Release concerning a no-action letter and the April 26 rulemaking concerning Missouri Private Fund Advisers. Read the release here.
April 26, 2012
The Commissioner of Securities has issued an advisory release concerning a rulemaking related to an exemption from registration for certain advisers to private funds. Read the release here.
March 23, 2012
The Commissioner of Securities has issued an advisory release on the fast-approaching deadlines and best registration practices for investment advisers switching to state registration. Read the release here.
December 30, 2011
The Commissioner of Securities sent a letter to Missouri Investment Advisers who may switch to state regulation in 2012 under the Dodd-Frank Act. Read the letter here .
December 15, 2011
Advisory Release AR-11-07
The Commissioner of Securities issued an advisory release summarizing NASAA’s coordinated review program for investment advisers switching to state regulation in 4-14 states. Read the release here.
July 20, 2011
Advisory Release AR-11-04
The Commissioner of Securities for the State of Missouri issued an advisory release summarizing a No-Action Determination issued in response to a request by an adviser to a private fund. Read the release here.