Commentary and musings on the complex, fascinating and peculiar world that is securities regulation
Friday, October 29, 2010
Alaska Sets Schedule for IAs Filing Form ADV Part 2
State investment advisers applicants. Persons applying to register as investment advisers for the first time in any state may between October 12, 2010 and December 31, 2010 electronically file with the IARD an old Part II or new Part 2 of Form ADV. Beginning January 1, 2011 persons applying to register as investment advisers for the first time in any state or for initial registration in a new state must electronically file new Part 2 with the IARD.
State investment adviser registrants. Alaska-registered investment advisers may between October 12, 2010 and December 31, 2010 electronically file with the IARD their Form ADV amendments on either old Part II or new Part 2. Alaska-registered investment advisers will, however, need to incorporate new Part 2 with either their next filing of a Form ADV amendment or filing of the annual updating amendment, whichever filing occurs first, so that investment advisers with a December 31, 2010 fiscal year-end who have not already filed an updated Part 2 must electronically file with the IARD an annual updating amendment that includes new Part 2 brochures no later than March 31, 2011.
SEC-registered investment advisers. SEC-registered investment advisers must within 60 days of filing an amendment deliver a new Part 2 brochure and brochure supplement to their existing clients that meets amended Form ADV requirements. SEC-registered investment advisers must immediately after filing the amendment begin delivering their new Part 2 brochure and brochure supplements to new and prospective clients.