kaal:claim:2337268-012

Where a state does not provide sufficient regulation of mid-sized investment advisers, oversight reverts to the SEC, so state level regulatory gaps trigger a federal backstop rather than leaving advisers unsupervised.

Source quote, verbatim

Should a particular state not provide sufficient regulation, the SEC will oversee the mid-sized investment adviser.22

From

Wulf A. Kaal, Investment Adviser Regulation (2013), 2. Adviser Categories, p. 8
https://ssrn.com/abstract=2337268 · source PDF

Cite as

Wulf A. Kaal, Investment Adviser Regulation (2013). SSRN: https://ssrn.com/abstract=2337268

Holds when

mid-sized investment advisers
states whose regulation is deemed insufficient

Classification

conditionsupport: assertedinstitutional-design

Verify

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