Thursday, March 01, 2012

Kentucky Proposes Adding Inspection Fees for IAs with AUM Exceeding $20 Million and for Firms Employing Issuer-Agents

Fees for the Kentucky Department of Financial Institutions to examine investment advisers with assets under management above $20 million were proposed by the Department to cover the higher threshold advisers that will be subject to state rather than federal regulation following adoption of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Another proposed amendment would apply the fee for examining broker-dealer firms to firms that employ issuer-agents.

Public hearing and comment period. A public hearingon the rule proposals will be held on March 22, 2012 at the KentuckyDepartment of Financial Institutions, 1025 Capital Center Drive, Suite 200, Frankfurt, Kentucky 40601. Interested persons may submit writtencomments about the proposed amendments through April 2, 2012 by mailingthem to the above address or by faxing them to Simon Berry, StaffAttorney at (502) 573-2183. Mr. Berry’s phone number is (502)573-3390.

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