New Guidance on Variable Material Posted on NYSID website
Posted recently on the NYSID's website is long-awaited revised guidance on variable material. For those that have attended industry meetings lately, it will be no surprise that the Department has been reviewing their earlier guidance. But there may be some surprises on the new guidance.
There has been a lot of confusion, in particular, over fund changes and officer changes recently. While I might have preferred some of these issues come out differently, I think it is most important that we all know the rules and know what we need to do to get our files in and out - stamped APPROVED - quickly.
This guidance helps with that effort and provides much needed answers to common questions in drafting and submitting Statements of Variable Material.
