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News January 31, 2005 Issue

Form ADV News

New Form ADV Part 2 is "something you’re going to see this year," according to SEC associate director Robert Plaze. Speaking at last week’s ALI-ABA investment adviser conference, Plaze acknowledged that advisers grappled with proxy voting in 2003 and compliance programs in 2004. "The next big push" for advisers will be the new Part 2, said Plaze, but promised that advisers will be given "plenty of time" to write their new brochure.

Also, in a few weeks, the SEC’s IARD Helpline number will change to (202) 551-6999 (the old number was (202) 942-0691).

Lastly, when working on your Form ADV updates this spring, don’t forget that you’ll need to update the Form ADV to describe your new (or amended) personal trading code of ethics, as required by new Rule 204A-1.