summary
Introduced
01/12/2026
01/12/2026
In Committee
03/02/2026
03/02/2026
Crossed Over
02/04/2026
02/04/2026
Passed
Dead
Introduced Session
2026 Regular Regular Session
Bill Summary
Securities Act; investment advisor advertising. Permits an investment advisor to solicit, disseminate, or otherwise use advertisements, including client testimonials and endorsements, provided such advertisements comply with the requirements for an advertisement solicited, disseminated, or used by a federally registered investment advisor under federal law.
AI Summary
This bill amends Virginia's Securities Act to allow investment advisors registered in the state to use advertisements, including client testimonials and endorsements, as long as these advertisements meet the same standards required for federally registered investment advisors under federal law, specifically referencing Section 206(4)-1 of the Investment Advisers Act of 1940. This change aims to align state regulations with federal ones regarding investment advisor advertising practices, providing clarity and potentially expanding the advertising options available to these advisors within the state.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Passed Senate (39-Y 0-N 0-A) (on 03/05/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://lis.virginia.gov/bill-details/20261/HB479 |
| Fiscal Note/Analysis - Fiscal Impact Statement from State Corporation Commission (HB479) | https://lis.blob.core.windows.net/files/1100700.PDF |
| BillText | https://lis.virginia.gov/bill-details/20261/HB479/text/HB479 |
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