For any individual responsible for reviewing and interpreting his or her registered investment adviser firm’s Preliminary Renewal State, there’s a new line item charge worth noting. In past years, the IARD system waived the RA system processing fee for each investment adviser representative’s electronic filing activity; however, for this year, an investment adviser firm’s renewal fees apparently include a $10.00 annual fee per investment adviser representative, which is described as “RA System Processing Fee” on an investment adviser firm’s Preliminary Renewal Statement. For more details from the IARD system, please click here.
Category Archives: IARD
Incorrect Fee on Preliminary Renewal Statement for Georgia Investment Adviser Representatives
November 16, 2012
The Georgia Securities Division recently issued a notice for investment adviser representatives registered in Georgia. The notice indicated that due to an administrative error, an investment adviser firm’s Preliminary Renewal Statements, now available on the Web CRD / IARD system, does not accurately reflect the correct investment adviser representative renewal fee. The correct fee for individuals registered in Georgia as only an investment adviser representative is $100 per individual and not the $30 fee per individual as displayed on the Preliminary Renewal Statement. The Georgia Securities Division further indicated that correct fees will be displayed on Final Renewal Statements once those become available.
Renewals for Investment Advisers and Investment Adviser Representatives
November 02, 2012
Investment adviser firms and investment adviser representatives must maintain active registrations and/or notice filing statuses with applicable securities regulators. Investment advisers should be aware that renewing registrations and notice filing statuses includes paying all applicable renewal fees by December 13, 2012. Unless properly renewed, all investment adviser firm registration and notice filing statuses and all investment adviser representative registrations will expire on December 31st of each calendar year. Failure to maintain active registration or notice filing status or failing to properly renew registration or notice filing may be detrimental to an investment adviser. Investment adviser firms and investment adviser representatives that have not properly renewed their registrations or notice filing status with the appropriate securities regulators may become ineligible to conduct advisory business effective January 1, 2013. Additionally, certain securities regulators may assess fines against those investment advisers or investment adviser representatives that fail to properly renew.
Washington State Securities Division Releases Investment Adviser Renewal Notice for 2013
October 24, 2012
The Securities Division of the State of Washington’s Department of Financial Institutions released a memorandum regarding investment adviser renewals for 2013. Click here for more details about investment adviser and investment adviser representative renewals in State of Washington.
Investment Advisers Should Begin Preparations for 2013 Renewals
October 02, 2012
As annual renewal season rapidly approaches, investment advisers should be proactive and begin preparing for renewals by reviewing to make sure the investment adviser is properly registered or notice filed, as applicable, and that its investment adviser representatives are properly licensed with all required state securities regulators. The IARD Renewal Program serves to facilitate the annual renewal of investment advisers and their investment adviser representatives’ registrations with the appropriate state securities regulators. Although, an investment adviser’s registration, notice filing, and licensing requirements is something that should be reviewed and monitored on an ongoing basis, during the annual renewal process all investment advisers should review their existing registration or notice filing status and each investment adviser representative’s licensing status to confirm that the investment adviser and its representatives are properly registered, notice filed, or licensed (as applicable). Additionally, all state registered investment advisers should also review the state requirements to see if branch office registration is required and, if it is, investment advisers should confirm that all branch office locations have been properly registered.
2013 Renewal Program Calendar Now Available
September 13, 2012
The Investment Adviser Registration Depository (“IARD”) 2013 Renewal Program calendar is now available on the IARD website. Investment advisers are encouraged to access and utilize the 2013 renewal program calendar to ensure they do not miss important deadlines. It is imperative that investment advisers note some of the following key dates, including:
Final Renewal Statements Now Available in the IARD/Web CRD System
January 10, 2012
Final Renewal Statements for registered investment advisors are now available in the IARD/Web CRD system. These statements will reflect the final registration statuses of the investment advisor firm and its representatives as of December 31, 2011. Final Renewal Statements will reflect that the investment advisor is “Paid In Full,” has an “Amount Due,” or “Failed to Renew.”
IARD Renewal Deadline Quickly Approaching & Information Regarding Annual Amendment
November 30, 2011
In order for an investment adviser to maintain active state registration or notice filing statuses, as well as active state registration statuses for investment adviser representatives licensed under an investment adviser firm, renewal fees must be paid, in full, by all investment advisers by no later than December 12, 2011. Investment advisers need to be sure to allow sufficient time for submitted funds to be processed and reflected in the renewal account; it is highly encouraged that investment advisers submit their renewal payments electronically by no later than December 8, 2011. If renewal fees are submitted by check via the U.S. postal service, the investment adviser must account for delivery and processing time. It is important to remember that failure to pay renewal fees in full and on time may result in the termination of your investment adviser firm and its investment representative’s active registration statuses. Additionally, many jurisdictions also impose fines against investment advisers that fail to renew properly.
Make Sure You Properly Renew Your Investment Adviser Firm and Representative Registrations
November 09, 2011
Investment adviser firms and investment adviser representatives must maintain active registrations and/or notice filing statuses with applicable jurisdictions/states. Investment advisers should be aware that renewing registrations includes paying all applicable renewal fees by December 12, 2011. Unless properly renewed, all investment adviser firm and representative registrations will expire on December 31st of each calendar year. Failure to maintain active registration or failing to properly renew registration may be detrimental to an investment advisor firm. Investment adviser firms and investment adviser representative that are not properly renewed may become ineligible to conduct business affected jurisdictions effective January 1, 2012. Additionally, certain regulators may assess fines against those firms or representatives that fail to properly renew.
IARD Renewal Reminder
November 01, 2011
The 2012 IARD renewal season is quickly approaching and investment advisor firms must plan accordingly. As of October 24, 2011, investment advisor firms may submit certain post-dated filings. Post-dated Form U5 filings are used 1) to terminate an investment advisor representative from the investment advisor firm and 2) to terminate an investment advisor representative from registration in states where the investment advisor representative no longer needs to license. Post-dated Form BR amendments are used to close or withdraw a registered branch office. Beginning November 1, 2011, investment advisor firms may submit a post-dated Form ADV-W, which is the filing used to withdraw a firm’s registration in one or more jurisdictions.
