SEC Warns Late ADV Filers of Possible Enforcement Action

Check your mail.On December 14, the SECs Pacific Regional Office sent a letter to a significant number of advisers informing them that they are delinquent in filing their annual Form ADV updates since 2003. The letter warns that the firms have until February 11, 2005 to file the required annual updating amendments “and avoid an […]

New CRD Tool Flags Late Filings

Dual registrants might want to check out a new report available on WebCRD, the “Late Filing Fee Report.” The report is designed to aid firms in the early detection of late reporting problems by providing a 12-month late filing history. According to an NASD spokesperson, the report is only available to NASD-registered firms.These days, its […]

The Hedge Fund Release is Out!

Its a monster, with 160 pages and close to 500 painstakingly-detailed footnotes. While the 30-page dissent filed by Commissioners Cynthia Glassman and Paul Atkins makes for an interesting read, the upshot is that roughly 1,000 hedge fund managers will have to register with the SEC as investment advisers by February 1, 2006. Of note: the […]

Whats in the SEC Pipeline?

Wondering where things are? Heres a snapshot, provided by SEC officials speaking at last weeks NSCP conference. E-mail guidance . Its coming. “We have heard absolutely, on both sides of the industry, both from brokers and advisers, that you would like some guidance,” said OCIE general counsel John Walsh. “When it will happen and the […]

IARD Renewal Season

Its that time of year again. The NASD last week posted a Notice to Members (04-74) that highlights the relevant steps and deadlines for CRD/IARD renewals. Preliminary Renewal Statements will be posted November 8, and fees are due by December 6.Remember: you will be asked to complete a one-time self-migration process the next time you […]

2005: The Year of Form ADV Part 2

Look to see final Form ADV Part 2 adopted before spring 2005, SEC associate director Robert Plaze told IM Insight, although he warned that “there could be slippage.” Plaze said that the IARD system will be ready to accept filings “sometime towards the middle of 2005.” He said that the SEC will provide a transition […]

IARD News . . .

One-Time Migrating Process. The next time you log onto IARD, dont be surprised if youre asked to fill out a new Entitlement Login screen in order to access the system. The technical folks at NASD have launched a new platform, and the information youll be asked to provide will allow the old platform to migrate […]

DOL Gets With the IARD Program

If youve got a state-registered adviser somewhere in your family tree that serves as an ERISA investment manager, listen up: The Department of Labor (DOL) has changed the rules for how state-registered advisers must qualify as an investment manager. In a nutshell: submitting paper copies of Form ADV to DOL is no longer required. Instead, […]

U-4s and U-5s Cost Morgan Stanley DW $2.2 Million

Imagine having to keep track of 13,000 Form U-4s and U-5s. Giving new meaning to the phrase “the devils in the details,” the NASD announced last week that Morgan Stanley DW agreed to pay $2.2 million to settle charges that it failed to keep more than 1,800 U-4s and U-5s up-to-date. Morgan Stanley also agreed […]

Form ADV Part 2 By End of Year?

SEC associate director Robert Plaze recently told IM Insight that Part 2 of Form ADV is on track to be adopted “by the end of the year.” Despite the changes that have occurred in the nearly five years since Part 2 was proposed, “theres no plans at this time to do a reproposal,” he said. […]

Audio Interviews

How to Read an SEC Enforcement Action

Stern Tannenbaum law firm partner Aegis Frumento on how to get the most from reading an SEC administrative order or court complaint.

Most Important Supreme Court Decisions for Advisers and Funds

Find out the high court decisions from recent years that are likely to affect how advisers and investment companies work from Debevoise partner Robert Kaplan. 

Top 10 Cybersecurity Steps to Take Now

Sutherland law firm partner Brian Rubin shares the most urgent cybersecurity steps for investment advisers.

Top Marketing Problems … and Solutions

Get solutions for the top marketing challenges that advisers face from ACA Compliance Group managing director Kimberly Daly

Watch Out for 5 Cybersecurity Myths

ACA Aponix Director Pascal Busnel on the most common cybersecurity myths that may cause firms to spend resources where they may not be needed.

The Hidden Costs of Non-Compliance

Proskauer law firm partner and former SEC Division of Investment Management deputy director Robert Plaze on why the costs of non-compliance go way beyond an SEC penalty.

CCO Liability: How to Protect Yourself

Find out from Blue Edge Capital CCO Margaret Fretz what chief compliance officers may be liable for and best practices to make sure you are protected.

Ethics or Compliance: Making the Choice

Find out the difference an ethics, rather than a compliance, perspective makes at an advisory firm from former Ethics and Compliance Officer Association COO Timothy Mazur.