The Securities and Exchange Commission (SEC) is an independent financial management institution under the federal government of the United States. It is directly responsible to Congress and has certain legislative and judicial powers. 1934 was established according to the Securities Exchange Law. It has the right to manage and supervise the national and state 130 securities issuance 9370, stock exchange 6 165, securities companies and investment companies.
The full name of RIA license plate RIA is Registered Investment Advisor, that is, registered investment advisor. Because only investment institutions with RIA licenses can carry out US stock sales and other businesses in China, if they can't obtain relevant qualifications, they can only trade through licensed intermediary platforms.
How to obtain RIA license: First, you need to register an American company.
1, RIA requires a company as the main body, so you need to register a company in the United States to apply for an RIA license. There are no special restrictions on the company name, as long as there is no duplicate name. Different states require different registered capital, generally $50,000, without capital verification. A local registered address is required. The general processing time is 20 working days.
2. Register an account with IAPD in the name of the company. The system is not only used to apply for registration, but also used for the follow-up compliance self-inspection and information disclosure of RIA.
3. Fill in the ADV form online in IAPD system and submit it. The ADV form consists of two parts. The first part needs to provide information such as company shareholders, shareholders and past punishment records. The second part is divided into two small parts, which need to provide the applicant's exhibition industry, potential customers, conflicts of interest and relevant personal information that needs to be supplemented.
4. At the same time of completing the online application, you need to pass a series of exams to qualify. The examination contents include various professional ethics, economic knowledge, various investment tools and investment analysis. , and the correct rate of 72% can pass. The license is valid for life and no further study is required.
5. Wait for approval after completing the above steps.
Not only American institutions are eligible to apply for RIA licenses. According to the provisions of the SEC, institutions whose main business address is abroad can also apply for registration in the SEC, but if overseas investment consultants want to provide investment advice to American customers, they must apply to the SEC for RIA license registration.
Compared with China, the qualification of private fund managers adopts administrative examination and approval system, and the supervision of the financial industry in China in recent years is also relatively strict, which makes the license somewhat scarce. RIA in the United States adopts the registration system, with moderate application difficulty, considerable stock and wide distribution of licensees.
Traders and platforms such as Billion International, CreditEase Fortune, Haitou Finance, KIB, Token Club, Harbor, Tiger Securities and Fortune Whale. All of them have obtained the regulatory permission of the US SEC, and compliance is definitely essential.