Tuesday, July 27, 2010

Louisiana Sets Forth Schedule for Inspecting BD and IA Firms

Broker-dealers and state-registered investment advisers doing business in Louisiana will be subject to inspections by the Office of Financial Institutions. Broker-dealers and state-registered investment advisers domiciled in Louisiana will receive their initial visit from the Office no later than one month after the firm’s registration effective date to review policies and procedures and ensure proper commencement of the firm’s business. Subsequent inspection dates are specified. Broker-dealers and state-registered investment advisers not domiciled in Louisiana may be inspected at any time if consumer complaints are filed with the Office or other information indicates potential problems. The findings of these inspections will be shared with the firm’s home state securities administrator.

For further information, please see http://www.ofi.state.la.us/securit.htm

No comments: