Attorney General James Continues to Modernize and Streamline Investment Adviser and Securities Filings in New York State

New Rules and Guidance Add Transparency and Protection for Industry and Investors

NEW YORK – New York Attorney General Letitia James today announced additional guidance further elaborating on recent rule amendments prepared by the Investor Protection Bureau (IPB) and adopted in 2020. Through these new rules, the Office of the Attorney General (OAG) has increased transparency for the public into the investment adviser representatives and securities issuers operating in New York state. 

“These new rules are propelling this office’s investment registration functions into the 21st century and helping to level the playing field,” said Attorney General James. “By moving to standardized electronic filings and payments, our systems are now providing enhanced transparency to New Yorkers when it comes to their investments. Every one of these improvements will assist my office in its ongoing battle to keep New Yorkers, and their nest eggs, safe.”

The OAG has created a number of resources to assist potential filers, including the following:

Securities Issuers Using the NASAA Electronic Filing Depository (EFD):

Investment Adviser Representatives:

Additional information, including the adopted rules, is available on the IPB’s Rule Change page.

The IPB has also recently begun accepting — on a voluntary basis — online payments for filings currently submitted on paper, in addition to paper checks that will continue to be accepted. The IPB ePayment system link and the user guide can be found on the IPB’s main webpage

Investment adviser representatives should expect delays in processing of applications during the implementation period through December 2, 2021. Interested parties should periodically check the IPB Rule Change page for updated information regarding the new rules.