Congratulations to BiyaPay for successfully obtaining an RIA license under the SEC!

Congratulations to BIYAPAY, an emerging U.S. and Hong Kong Internet brokerage firm, for successfully obtaining an RIA license from the SEC on January 31, 2023!

A Registered Investment Advisor (RIA) license is a license required by the SEC or state securities authorities for companies and individuals who specialize in investment advisory services. RIAs are primarily regulated by the Investment Advisers Act of 1940, and the core of the regulation emphasizes that RIAs must always place the interests of investors above their own. Under the requirements of the Act, RIAs are required to provide full disclosure of their compensation, conflicts of interest, etc., and any purported transfer of benefits is illegal.

Scope of RIA License Regulation
In the U.S., to provide advice to others on securities investment services for a fee, one must apply to the Securities and Exchange Commission (SEC) or the state securities agency in which he or she has his or her principal place of business to register as an investment adviser, i.e., a registered investment adviser RIA.
The scope of securities investment advice in the United States is quite broad, including the entire securities market asset management, account management and financial services behavior, so the asset pool includes both stocks, debt, digital currency, mutual funds, commodity futures and other common marketable securities, hedge fund management, financial planning services, etc. are also defined as securities investment business, practitioners need to hold RIA license.

What are the SEC regulatory requirements?
The SEC requires registered investment advisers to safeguard the interests of their clients and not to use improper means to deceive them. Both integrity and full public disclosure must be maintained with clients, and investment advice suitable for clients must be provided to clients in a selfless manner. The management of assets needs to go through a third-party custodian, and clients need to be notified and approved for the application of each investment payment. This "fiduciary duty" is a rule of operation imposed on investment advisers under the Act, so that the interests of clients working with registered investment advisers are effectively protected.
In addition, the SEC regularly conducts regulatory visits to RIAs. The main focus is on risk-based supervision of portfolio valuation, performance and asset review; legality supervision of the provision of effective compliance policies and procedures; and the publication of notices of the results of the examination.

About BIYAPAY
BIYA Global (BIYAPAY) is an international wallet system that supports multi-asset trading, global payment and receipt and international remittance, and multi-asset trading of U.S., Hong Kong and other stocks.
BIYAPAY provides diversified services such as fast account opening, 0 threshold deposit, real-time deposit and withdrawal, in-depth quotes and trading of stocks and other multi-species, exchange rate conversion and currency exchange and real-time information. One account and one fund can invest in global and U.S. and Hong Kong stock markets, making global investment easier, simpler and safer.