SOURCE: RIA In A Box

RIA In A Box

January 25, 2012 07:00 ET

RIA In A Box Provides Free February 7 Webinar on SEC to State Transition Challenges and Requirements

NEW YORK, NY--(Marketwire - Jan 25, 2012) - RIA In A Box (www.RIAinaBox.com), a compliance consulting business aimed exclusively at registered investment advisory firms, will host a free webinar on the issues and challenges associated with the SEC to State registration transition for RIAs. The webinar takes place Tuesday, February 7 at 2PM EST and focuses on those current SEC-registered RIAs with under $90 million in assets under management (AUM) which must begin the transition from SEC registration to the applicable state jurisdictions by March 30.

According to Section 410 of the Dodd-Frank Act, regulation of RIAs with AUM between $25 million and $100 million must be registered by the states. The SEC has set March 30, 2012 as the deadline for all SEC registered firms to file an amendment to their ADV forms, and if AUM is below $90 million, then the RIA must transition to state registration by June 28. RIA In A Box's webinar will explain the process, the pitfalls and concerns in this transition.

"It has been our experience that some states can take up to four months to process registrations, and anticipate that this transition will create a serious bottleneck for many states," explained Zachary Gronich, founder, RIA In A Box. "If your firm has less than $90 million AUM, it must start transitioning well in advance. There are very serious consequences which must not be ignored."

RIA In A Box has developed a series of blog posts outlining the SEC to state transition. In the entries, RIA In A Box explains how every state has different rules and registration requirements for RIAs which typically are more complex than the SEC process. Typically, the SEC filing requires only that an RIA submit the ADV Part 1A and Part 2A/2B and then wait 45 days for approval. At the state level, there are additional ADV sections including disclosure information about the background on all principal executive officers. For many states, recent balance sheets must also be submitted as well as samples of all agreements and, in some instances, copies of policy manuals and advertising must also be included.

"We are prepared to help RIAs work through this transition and submit the appropriate materials at the correct time so that the advisors who must move to state registration -- and there are a lot of them -- will find it a seamless experience. It can be a big change from the SEC process, and we want everyone to be informed and have enough time to do what is necessary and avoid any disruptions," Gronich continued.

For more information or to register for the webinar, visit http://www.sectostate.com/. To learn more about the transition process, read the RIA In A Box series of blog posts, also at http://www.sectostate.com/.

About RIA In A Box and Lexington Compliance

RIA In A Box is a compliance consulting business focused on registration and ongoing compliance for registered investment advisory firms at both the state and SEC levels. Founded by in 2005, RIA In A Box has helped create nearly one of every 5 RIAs approved in the US last year and nearly one in three RIAs that was set up with the use of a consulting firm. Since its founding, RIA In A Box has helped over 1,300 advisory firms get registered quickly and correctly the first time. For more information, visit www.riainabox.com.

Lexington Compliance is the compliance and oversight brand of RIA In A Box, providing advice and guidance to established RIAs registered in all 50 states, Washington, D.C., and with the SEC. For more information, visit www.lexcompliance.com.

Contact Information

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