Under the federal financial reform law, state securities regulators next summer will take responsibility for overseeing investment advisers with assets under management of up to $100 million. Currently, the state's threshold is $25 million.
That is expected to add 50 to 60 advisers to state oversight, the department said. Hedge fund advisers also will become subject to state regulation.
Perhaps the advisers will pay for the service, but in the end, YOU will.