Thursday, October 21, 2010

Massachusetts Set Time-Table for Mandating New Part 2 of Form ADV

Massachusetts-registered investment advisers may continue to use old Part II of Form ADV to electronically file material amendments with the IARD until their next annual updating amendment is required, within 90 days of a registrant's fiscal year-end. At the time of the next annual updating amendment, investment advisers must: (1) electronically file with the IARD a new Form ADV that includes new Part 2; and (2) deliver or offer to deliver new Form ADV Part 2 to their existing, new and prospective advisory clients. Investment advisers need to also consider the new SEC custody rule incorporated by reference in Massachusetts Rule 950 CMR 12.205 (5).

For more information please see