Securities

INVESTMENT ADVISERS

Providing Investment Advice in IllinoisUnder Illinois Law, any person or a firm (investment advisor or financial planner) offering investment advice to consumers in exchange for compensation (fee or commission)--and with more than 5 clients--must be registered as an investment advisor with the Securities Department. The National Securities Markets Improvement Act of 1996 (NSMIA), passed by the Congress and signed by President Clinton, used the benchmark of "asset under management" to divide the regulatory jurisdiction for investment advisors between the SEC and the states. The SEC has jurisdiction over all investment advisors with assets under management of $25 million or more, while the states' jurisdiction will be below that threshold. States may continue to require the registration of investment advisor representatives (broadly defined in the Act) if they have an office in the State.

Registration and Licensing

• Investment Advisors
• Investment Advisor Representatives
• Federal Covered Investment Advisor
• Publications and Forms

Audit and Compliance

DISCLAIMER
The Secretary of State, Illinois Securities Department or their information providers shall not be liable regardless of the cause or duration, for any errors, inaccuracies, omissions or untimeliness of the information, or for any delay or interruption in the transmission thereof to the user, or for any claims or losses arising therefrom.