NASAA Findings and Recommended Best Practices

A series of 1,206 coordinated examinations of state-registered investment advisers by state securities examiners showed that nearly 59 percent of investment advisers did not have policies or procedures in place for addressing the financial exploitation of seniors or vulnerable persons, the North American Securities Administrators Association (NASAA) announced.

Based on these findings, NASAA has identified the top compliance deficiencies noted and offers a series of recommended best practices for investment advisers to consider in order to improve their compliance practices and procedures. These best practices are designed to support investment advisers in meeting their compliance challenges and providing better services to their clients.