Many IARD Fees Waived For Next Year
The SEC and the North American Securities Administrators Association have done away with a host of IARD fees, at least for the next year. For SEC-registered advisers, thereís no fee to file Form ADV annual updating amendments from November 1, 2005 through October 31, 2006. Thatís a savings of $100, $400, or $550, depending on the firmís assets under management.
"Itís a happy day when a tax can be completely eliminated," said SEC Chairman Christopher Cox in a separate statement announcing the fee waiver.
In other IARD news: Hedge fund managers preparing to register might want to attend a November 7 IARD training session to be held by the NASD in Rockville, MD. The session, which costs $275, will cover registration for advisory firms and investment adviser representatives, using both the IARD and Web CRD systems. The training "is designed for those who are new to investment adviser registration, new to IARD/CRD, or those who want to receive refresher training and registration tips," said the NASD.