QUESTION
In filing an LLC with the SEC, must a member and managing member register, or just the managing member with a list of employees?
Asked on Jan 04th, 2012 on Business Law - North Carolina
More details to this question:
My husband and I are forming an internet only financial advisory firm that will have paid memberships, but no assets under management. We are trying to do as much paper work ourselves.
1 ANSWER
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These are precisely the perils of trying to do things yourself. If you have no assets under management, you cannot register with the SEC as an investment advisor. There is no general "filing" with the SEC with respect to new businesses that do not make a public offering of securities. Sounds as if you need help -- why don't you consider engaging the services of an attorney?
Answered on Jan 05th, 2012 at 4:09 AM