RIA Compliance Consultants, Inc. continues to follow the implementation of Form ADV Part II functionality on IARD, and we have learned that three more states require state registered investment advisors to post the Form ADV Part II on IARD.
Category Archives: IARD
Attention State Registered Investment Advisors – Deadline to Post Form ADV Part II on IARD
May 29, 2007
In a previous blog this month, RIA Compliance Consultants, Inc., told you about the IARD/Web CRD’s new functionality allowing registered investment advisors to post their Form ADV Part II online. According to an e-mail sent from the California Securities Regulation Division, any amendments to Form ADV Part II after April 24 should now be posted directly on the IARD system. All California registered investment advisors must post their current Form ADV Part II directly with IARD within 60 days after April 24. The Virginia Division of Securities and Retail Franchising also issued an e-mail, dated April 26, 2007, requiring state registered firms to post their Form ADV Part II online as well.
With IARD/Web CRD Release 9.0, the NASD implemented several changes that went into effect on April 23, 2007. The most significant of these changes is the ability for registered investment advisor firms to post their Form ADV Part II online. This new update has not received the widespread media coverage that the release of the new Form ADV Part II will certainly see, but its implementation is significant. With the new functionality, the general public is now able to view registered investment advisor firm disclosure brochures through the Investment Adviser Public Disclosure site (www.adviserinfo.sec.gov).
Did your firm renew for 2007?
January 24, 2007
Now that renewal season is over, can you confirm your firm and its advisor representatives were properly renewed for 2007? It seems like every year there are always a handful of firms that fail to submit renewal fees through the IARD system in a timely fashion. Therefore, even if you think the renewal payment was sent in time, please make sure your firm retrieves the Final Renewal Statement and confirms it is renewed from 2007. The Final Renewal Statement will indicate one of the following.
Initial IARD/CRD Fee Waiver for State Registered Firms & IARs Delayed Until January 2007
November 21, 2006
In a blog last month, we informed you of the SEC and NASAA’s intention to waive the initial Web CRD/IARD user fees charged to new investment advisor firms. The initial system fee to license an investment advisor representative (IAR) was also to be reduced from $45 to $30.
2007 IARD Annual Renewal and Form ADV Annual Amendment Requirements
November 06, 2006
Beginning today, Monday November 6, 2006, investment advisor firms can access their 2007 Preliminary Renewal Statements via their IARD account. The Preliminary Renewal Statement must be paid, in full, by Friday, December 8, 2006. Because it takes approximately two days for payment to post to the IARD account, the funds should arrive no later than Wednesday, December 6, 2006, to ensure the money is posted to your IARD account by the 8th. Click here for detailed instructions, prepared by RIA Compliance Consultants, to fund your IARD account.
SEC and NASSA Continue IARD System Fee Waiver
October 30, 2006
As the 2007 IARD Annual Renewal Season quickly approaches, there is good news for investment advisor firms. The SEC and NASAA announced last week that they will continue to waive the annual IARD system fees paid by investment advisor firms for the next two years. The two bodies also announced a waiver of initial set-up fees for new advisors filing through Web CRD/IARD. Prior to this announcement, initial fees ranged from $150 – $1,100 and $100 – $550 annually, depending on the amount of the firm’s assets under management.
2007 IARD Annual Renewal and Form ADV Annual Amendment Requirements
October 10, 2006
Beginning Monday, November 6, 2006, investment advisor firms can access their 2007 Preliminary Renewal Statements via their IARD account. The Preliminary Renewal Statement must be paid, in full, by Friday, December 8, 2006. Because it takes approximately two days for payment to post to the IARD account, the funds should arrive no later than Wednesday, December 6, 2006, to ensure the money is posted to your IARD account by the 8th.
END OF YEAR COMPLIANCE – Part 1
December 21, 2005
Recently, we have posted several blogs about the IARD renewal season. In addition to paying renewal fees each year, there are a number of other annual requirements that must be completed by investment advisor firms. The end of the calendar year is a good time to discuss some of those different compliance requirements. This entry is the first in a series of blogs that we will post discussing some of the annual requirements.
Preliminary Renewal Statement Deadline and IARD/CRD System Shutdown
December 08, 2005
Monday, December 12 is the last day to submit payment to your IARD Renewal Account in order to ensure the necessary fees are received by the NASD and posted to your investment advisor firm’s account by Wednesday, December 14, the final deadline to have preliminary renewal fees paid.
