RIA Compliance Consultants is offering two investment advisor compliance webinars in January. On Thursday, January 16, 2020, Bryan Hill, the president of RCC hosted, “SEC’s 2020 Exam Priorities for Investment Advisers,” A recording of this one our webinar can be purchased through the following link “SEC’s 2020 Exam Priorities for Investment Advisers”.
An investment adviser firm’s Final Renewal Statement reconciles what was charged on the Preliminary Renewal Statement with what is actually owed as the start of the new calendar year (January 1, 2020). The Final Renewal Statement confirms whether an investment adviser firm must pay an additional amount, received a refund (i.e. credit) to its Flex-Funding Account or is Paid-in Full.
Deadline for Receipt of Preliminary Renewal Statement Payments Quickly Approaching
December 08, 2019
The deadline for investment adviser firms to submit their Preliminary Renewal Statement payment is quickly approaching. FINRA must be in receipt of an investment adviser firm’s full payment listed on the Preliminary Renewal Statement by December 16, 2019. Investment adviser firms with sufficient funds in their IARD Flex-Funding Account to cover the Preliminary Renewal Statement payment will have funds automatically transferred beginning on December 16, 2019 to the IARD Renewal Account to cover total renewal fees owed. Automatic transfers will be conducted every day after December 16, 2019 until the WEB CRD/IARD shuts down for year-end processing on Friday, December 27, 2019. Investment adviser firms that choose to mail in their renewal payments are advised to do so now to avoid delays and to ensure funds are received by the deadline.
Tip #5 for IARD Renewals – Check for State’s Miscellaneous Requirements – Annual Financials
December 02, 2019
Certain state securities regulators have additional renewal requirements beyond the IARD renewal statements and Annual Form ADV Amendment.
Making the Reporting of Elder Abuse Easier for Investment Advisers
November 28, 2019
When an investment adviser firm suspects a vulnerable or senior client is being exploited financially by a third-party, one of the biggest challenges for the chief compliance officer (“CCO”) is knowing where exactly to report such suspicions of abuse.
Ensure Timely Preliminary Renewal Statement Payments
November 21, 2019
Don’t wait until the last minute to submit your annual renewal fees. FINRA must be in receipt of the full payment listed on the Preliminary Renewal Statement, which is now available, by Monday December 16, 2019. Investment advisers with sufficient funds in their Flex-Funding Account to cover the Preliminary Renewal Statement payment will have funds automatically transferred beginning December 16, 2019 to the Renewal Account to cover total renewal fees owed. Investment advisers that choose to mail in their payments are advised to do so now to avoid delays and to ensure funds are received by the deadline. If your investment adviser would like assistance with the annual renewal service, click here for more information on or to purchase RIA Compliance Consultants’ IARD Renewal Program and ADV Amendment Services.
RIA Compliance Consultants recommends the chief compliance officer (“CCO”) of your investment adviser firm add the following deadlines for IARD renewals and the annual Form ADV amendment to his or her calendar:
Your investment adviser firm can create IARD renewal email alerts in E-Bill section of the IARD account. The email alerts sent to your investment adviser firm can include notifications about renewal statements, deadlines, or confirmation that your investment adviser firm has paid its renewals in full. The Super Account Administrator (“SAA”) for your investment adviser firm’s IARD account does not automatically receive all the available alerts; the SAA must subscribe for the various email alerts. For more details about the features of the E-Bill section of your investment adviser firm’s IARD account, visit E-Bill Frequently Asked Questions (FAQ) at https://www.finra.org/filing-reporting/e-bill/faq#alerts .
Tip #2 for an Investment Adviser’s IARD Renewal
November 12, 2019
As you review your investment adviser firm’s Preliminary Renewal Statement from the IARD system, your investment adviser firm should consider whether its investment adviser representatives should be registered as an investment adviser representative in a particular state.
Tip #1 for an Investment Adviser’s IARD Renewal
November 11, 2019
As you review your investment adviser firm’s Preliminary Renewal Statement from the IARD system, you should consider whether your investment adviser firm desires to terminate a firm-level investment adviser state registration or state notice filing so it can receive a regulatory fee refund.
