RIA Notice Filing Fees in Puerto Rico
A brief compliance reminder for SEC registered investment advisers rendering advice to Puerto Rico residents.
Investment Advisers registered with the U.S. Securities and Exchange Commission that are based on the mainland and render advice to Puerto Rico residents must determine whether they are required to submit a “Notice Filing” with the Office of The Commissioner of Financial Institutions (OCFI). Many mainland advisers assume that once they’ve paid the $500 firm notice-filing fee on IARD, Puerto Rico is satisfied. Not quite. Puerto Rico’s Office of the Commissioner of Financial …
