Investment Advisers Registered with Nebraska Must Submit New ADV Part 2 by December 23, 2010

November 03, 2010

The Securities Bureau of the Nebraska Department of Banking and Finance recently released an annual renewal notice reminding investment advisers registered with the State of Nebraska that their investment adviser registration expires on December 31, 2010.  The notice by the Nebraska Securities Bureau states that in order to renew registration by January 1, 2011, all renewal fees must be paid by December 13, 2010 and all required documents must be submitted by December 23, 2010.  One of these required documents is the new narrative version of Form ADV Part 2.  This means that all investment advisers currently registered with State of Nebraska must submit the new Form ADV Part 2 via the CRD/IARD system on or before December 23, 2010.  (Please note that this deadline set by the Nebraska Securities Bureau does not apply to a SEC registered investment adviser and is only notice filed with the State of Nebraska.)

The SEC estimates that it will take most investment advisers between 15 and 60 hours to complete the new Form ADV Part 2.  Therefore, RIA Compliance Consultants strongly recommends that investment advisers registered with the State of Nebraska start to prepare the new Form ADV Part 2 as soon as possible.  If your investment adviser needs help developing a plain English version of your current Form ADV Part II or would like help reviewing a draft of the new Form ADV Part 2, RIA Compliance Consultants would be happy to assist your firm.  To schedule a time for our consultant to contact you to discuss your needs and our services, please click here.

Posted by Bryan Hill
Labels: ADV Part 2