CA Department of Business Oversight Order Re: Electronic Communications

California’s Commissioner of Business Oversight recently issued an order (the “Order”), a copy of which is attached, requiring licensees to register a dedicated email address to receive communications from the Department of Business Oversight (the “DBO”) (formerly called the Department of Corporations).  This Order affects a wide range of financial services providers, including broker-dealers and investment advisers that are registered or certificated in California, and investment advisers that claim an exemption from certification (including exempt reporting advisers).

If you are certificated as an investment adviser in California, have claimed an exemption from such certification, or are an SEC registered investment adviser that has made a notice filing in California, you must register a designated email address by January 4, 2013, by logging into the DBO secure portal, found at https://dbolicensee.secureprtportal.com, and entering your designated email information.

The designated email address must use a generic address (such as, dbo@nullabcfinance.com or govcompliance@nullabc.com) that is neither provided to the public for general communication nor an individual’s email. The email account must be monitored daily by the adviser’s executive staff. Investment advisers must adjust their email SPAM filters to ensure delivery of all notifications and attachments sent by the domains @dbo.ca.gov and @Service.GovDelivery.com.

If you need assistance in determining whether you are required to register a designated email address, please contact John Broadhurst, Geoff Haynes, Carolyn Reiser, Neil Koren, Jim Frolik, Christina Hamilton, Joan Grant, Ellyn Roberts or David Suozzi.

The Hedge Fund/Investment Adviser Group
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