The Securities Division is considering proposing amendments to the investment adviser rules in Chapter 460-24A WAC to bring the rules up to date with federal rules, incorporate NASAA model rules, and make other updates and clarifications. The Securities Division has prepared a draft of possible amendments (“Draft Rules”).
Small Business Economic Impact Survey
Prior to formally proposing the Draft Rules, the Securities Division must determine the potential economic impact of the rules. To accomplish this, the Securities Division is conducting a survey of Washington-registered investment advisers, exempt reporting advisers, and a representative sample of its notice-filed federal covered investment advisers. We may make changes to the Draft Rules based on the feedback from the survey.
Next Steps
Once the Securities Division has analyzed the results of the survey, it will formally propose amendments in a Notice of Proposed Rulemaking (CR-102). The CR-102 will include a deadline for comments and set a public hearing date. If you have comments at this time, however, you may submit them to jill.vallely@dfi.wa.gov.