Wednesday, May 30, 2012

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

Fees for the Kentucky Department of Financial Institutions' staff to examine investment advisers with assets under management above $20 million were adopted to cover the higher threshold advisers that will be subject to state rather than federal regulation in light of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Investment advisers (IAs) with assets under management (AUM) of between $20 and $30 million pay $350; IAs with AUM of between $30 and $45 million pay $450; IAs with AUM of between $45 and $60 million pay $550; IAs with AUM of between $60 and $75 million pay $650; and IAs with AUM exceeding $75 million pay $750. The fee for examining broker-dealers and firms employing issuer-agents is $35 per working hour up to a total maximum fee of $1,000. NOTE: A fee is not charged for training hours on an examination.

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