New York AG Issues Additional Guidance on Recent Investor Protection Bureau Rule Amendments

  • New York Attorney General Letitia James provided additional guidance on recent Investor Protection Bureau (“IPB”) rule amendments intended to increase transparency into the investment adviser representatives and securities issuers operating in New York.
  • The additional guidance includes detailed information about the practical ramifications of the amendments to Part 10 of Chapter II, Title 13 of the Official Compilation of Codes, Rules and Regulations of the State of New York (“NYCRR”), which covers securities issuers using the North American Securities Administrators Association (“NASAA”) Electronic Filing Depository, and the amendments to Part 11 of Chapter II, Title 13 of the NYCRR, which covers Investment Adviser Representatives.
  • As previously reported, the rule amendments are intended to better conform registration and filing processes with the federal securities regulatory regime and to modernize New York’s system by moving it to standardized electronic filings and payments.