Presented by the Securities & Investments Professional Liability Department

Pennsylvania Department of Banking and Securities Issues Reminder

On Tuesday, July 28, 2020, the Pennsylvania Department of Banking and Securities issued an advisory notice to brokers/dealers and investment advisory firms. That notice states that as of August 31, 2020, the grace period will end for those individuals who have not yet filed as an Agent or IAR with the Commonwealth of Pennsylvania and who are displaced for teleworking to their Pennsylvania home addresses during the COVID-19 Pandemic. Individuals who were previously/once not required to register with the Commonwealth of Pennsylvania, because they did not “work” within the state, now need to review the registration requirements. This is given the fact that many investment and advisory professionals are working remotely from their homes within the Commonwealth of Pennsylvania.

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