Regulatory Alerts2022-11-23
State Registered Investment Advisers – Guidance on Fees
The Idaho Department of Finance issued Guidance Statement 2022-01-SB to address observed discrepancies in State Registered Investment Adviser fee calculations, undisclosed fees, and billing errors. The document clarifies that existing Idaho securities laws and rules require accurate fee computation, full contractual disclosure, and the submission of updated contracts to the Department. It recommends that advisers implement written billing policies, validate fee calculations against contracts, and ensure third-party providers comply with these standards to maintain regulatory compliance.
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