Investment News – Investment advisers who have between $25 million and $100 million in assets under management probably will have until 2012 to switch their registration from the Securities and Exchange Commission to their states.
The deadline for the transition likely will be extended until the first quarter of 2012 for both groups. He noted that the SEC is likely to promulgate regulations governing each provision by July 21. Compliance, however, is being delayed.
The five SEC commissioners must approve the new time frame.
