Adviser, IAR, BD, and Agent Regulation

Free NASAA Series 66 (Uniform Combined State Law Examination) lesson in Laws, Regulations, and Guidelines. 24 min read, ~3,568 words.

Federal/state IA split: under \$90M is state-only, \$100M+ is SEC-required, \$90-100M is optional, with a \$110M trigger to switch up and a \$90M floor to switch back. Form ADV Part 1 (firm data), Part 2A (brochure), Part 2B (supplement), Part 3 (Form CRS retail), all filed electronically on IARD; annual...