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May 2023 Monthly Bulletin

Financial plan with EARN SAVE AND INVEST Checkbox

The Broker-Dealer / Investment Adviser (BDIA) Division is continuing an annual online examination for certain registered Investment Advisers, in accordance with DFPI’s authority under California Corporations Code Section 25241, subdivision (c). This mandatory examination consists of an online examination for Investment Advisers registered with the DFPI, who have their principal place of business in another state.

The online examination for this year began on April 3. Selected advisory firms were notified on April 3 that they are required to complete and submit the online examination by May 19, 2023. The Division is structuring the exam to be conducted on this population on a four-year cycle. However, an Investment Adviser may be selected for a future examination sooner or later than the estimated four-year cycle.

To communicate regarding the online examination, as well as any follow-up communication, the Division is using the Investment Adviser email address as disclosed on the current Form ADV. If you have any questions or inquiries, please contact the Division at CADFPIexams@dfpi.ca.gov.