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Registration as Advising Officer denied due to lack of requisite securities industry work experience.
The Applicant sought a hearing and review of a Director's decision refusing to grant him registration as an Advising Officer for an Investment Counsel and Portfolio Manager (ICPM) and refusing to register his company as an ICPM.
The Commission found that while the Applicant met the educational requirements, he lacked the requisite work experience in the securities industry, specifically in managing third-party discretionary investment portfolios and being mentored by a registered adviser.
The Commission declined to grant an exemption from the proficiency requirements, concluding that the Applicant's experience in economic research and credit valuation was not equivalent to the required securities industry experience.
The application for registration was denied.
