Does Alaska require a surety bond for a State Investment Adviser (SIA) who is registered, or required to be registered, under the Alaska Securities Act?
Yes, if the SIA has custody and/or discretionary authority over customer funds or investment activity (see 3 AAC 08.025). If the SIA has custody of client funds or securities, a $35,000 bond is required. If the SIA has discretionary authority over, but does not have custody of, client funds or securities, a $10,000 surety bond is required.
Related Questions
- May an investment adviser registered with the United States Securities and Exchange Commission ("SEC") pay a third-party (non-employee) to solicit or refer new investment advisory clients?
- Does Alaska require a surety bond for a State Investment Adviser (SIA) who is registered, or required to be registered, under the Alaska Securities Act?
- How do I register as a State Investment Adviser (SIA) in Alaska (3 AAC 08.011(j))?
