NV | Today, Secretary of State Francisco V. Aguilar and the Securities Division announced the adoption of updated regulations pertaining to Chapter 90 of the Nevada Administrative Code. The proposed regulations from the Securities Division cleaned up and clarified outdated regulations within Nevada State law.
“These regulation updates are years overdue – our small business and financial communities currently have to decipher rules that are challenging to understand because they’re so far out of date,” said Secretary Aguilar. “I’m grateful to our Deputy Secretary of State for Securities Erin Houston for her dedication to modernizing our state systems and ensuring they’re efficient and usable for Nevadans.”
The new regulations modernize the language of the Nevada Administrative Code as well as adopt various model rules from the North American Securities Administrators Association to increase uniformity with the regulations of securities agencies and administrators in other states.
Notable updates include:
- Added protections for seniors or vulnerable investors: New regulation allows broker-dealers or investment advisers to delay a transaction/disbursement from the account of an older or vulnerable person if they suspect exploitation
- Continued education: Licensed representatives of investment advisers must complete continued regulatory and ethics education for each reporting period
- Licensing exemptions: Some merger and acquisition brokers now exempt from licensing requirements described in NRS 90.310