Effective June 14, 2019, the Massachusetts Securities Division has adopted amendments to the regulations regarding disclosure obligations of investment advisers registered in Massachusetts. The amendments include the requirement that all investment advisers registered in Massachusetts provide clients and prospective clients with a one-page, stand-alone Table of Fees for Services (“Fee Table”). The amendments will be enforced starting on January 1, 2020.
The amendments were previously proposed on April 3, 2019. The Division accepted public written comments until May 3, 2019 and held a public hearing on May 2, 2019. Below are links to the Adopting Release, the amended regulation, a fillable template Fee Table, and the instructions for completing the Fee Table.
The Division thanks all those who submitted written comments and testified at the hearing for their thoughtful and valuable feedback.
Adopting Release (PDF)
Amended Regulations (PDF)
Fillable Fee Table Template (DOCX)