Colorado Division of Securities
Quarterly Industry Newsletter
January 2024
The Division Announces 2024 Investment Adviser Examination Priorities
The Division's 2024 investment adviser examination priorities are available for review. This year, staff are highlighting the importance of firms to capture and maintain, in writing, client suitability information and key clarifications and changes set out in the new rules adopted by the Commissioner that became effective in March 2023.
The Division reminds all firms that they are required to maintain books and records, and upon request of the Division staff, are expected to produce them in a timely manner for review. View the 2024 priorities.
Investment Adviser Representative Continuing Education Webinars
Investment adviser representatives must complete 12 continuing education credits by Dec. 31, 2024. The Division will host a series of webinars focused on providing basic information on how representatives can comply with the IAR CE requirements.
Register here to attend the first session on February 7 from 1-2 p.m. MT.
Save the date for the other sessions on:
Reminder: Annual Updating Amendment
The time to file "Annual Updating Amendments" is approaching. Each year, the Division requires that these documents be filed within 90 days after the fiscal year ends. That date is March 30, 2024, for most firms. Even if there aren't changes to ADV Forms, the Division requires the annual filing of these amendments.
It's also recommended that you take the opportunity at that time to review your Form U4 to confirm that it's current and accurate. You should also keep in mind that the ADV Forms and your Form U4(s) are required to be kept materially accurate throughout the year by filing an “Other than Annual Updating Amendment” or a Form U4 Amendment, as well as timely providing clients with any notice(s) of material changes to your Form ADV Part 2 that may be required.
Recent Enforcement Actions
January 18, 2024 - The Division filed a civil fraud case against INDXcoin, an alleged $3.2 million fraudulent cryptocurrency scheme run by Eli and Kaitlyn Regalado of Denver. The investigation found that the couple marketed and sold a cryptocurrency, known as the “INDXcoin,” to Christian community members. Commissioner Tung Chan requested a temporary restraining order with an asset freeze, which the court approved. Read the press release.
Have You Considered a Career as a State Securities Regulator?
The Division hires investigators, examiners, auditors (CPA), administrative support and supervisors. Our mission is to protect investors, and the work is challenging and rewarding. Visit our careers page to find current openings, learn more and apply.
Interested candidates can email dora_SecuritiesWebsite@state.co.us with questions.