RIA Compliance Consultants
Blog
 
Home
About Us
Our Services
  IA Registration
Annual Compliance for New IA
Code of Ethics
Customized Compliance Program
13D, 13G & 13F Filings
Compliance Webinars
  Upcoming Webinars
Recorded Webinars
Blog
Navigating the Regulatory Maze
Frequently Asked Questions
  IA Registration
Series 65 Exam
Solicitor
Form 13F
Schedule H
Written Supervisory Procedures
Codes of Ethics
Insurance Agents as IAs
Compliance Tips
  State IA Registration
Form ADV Background
Form ADV Drafting
SEC Examination
Published Articles
Contact Us

Online Invoice Payments
Newsletter Signup
Speaker Request
Resources
Search Our Site
Disclosures
(877) 345-4034
Blog
Wednesday, January 24, 2007

Did your firm renew for 2007?

Now that renewal season is over, can you confirm your firm and its advisor representatives were properly renewed for 2007? It seems like every year there are always a handful of firms that fail to submit renewal fees through the IARD system in a timely fashion. Therefore, even if you think the renewal payment was sent in time, please make sure your firm retrieves the Final Renewal Statement and confirms it is renewed from 2007. The Final Renewal Statement will indicate one of the following.

1. Paid in Full - If your firm's renewal statement has been paid in full, your renewal process is complete. You should print a copy of the Final Renewal Statement and file it with your firm's books and records.

2. Outstanding Balance Due or Refund - If your firm paid its Preliminary Renewal Statement in full, but added or removed a state registration or advisor representative during the time period between the posting of Preliminary Renewal Statements and the 2006 shut down period, then your firm will either have additional fees due or receive a credit. If additional fees are due, the fees should be submitted as soon as possible. If your firm received a refund, the credit will automatically be transferred to your firm's Daily Account.

3. Failed to Renew - If a firm's Final Renewal Statement indicates Failed to Renew, the NASD did not receive the total balance due on the Preliminary Renewal Statement prior to the December deadline. In these cases, it is standard operating procedure for the NASD to automatically terminate all advisor representatives of the firm. In addition, over thirty states have given the NASD the authority to automatically terminate an advisor firm that does not pay its renewal fees in full. If your firm's statement indicates Failed to Renew, you will need to contact each state jurisdiction immediately to determine an appropriate course of action.

Finally, it is important to make sure your firm submits any required documentation directly to the states where the firm is registered.

If your firm did fail to renew through IARD system or you have questions on any state renewal requirements, call us immediately so we can provide assistance to get your firm in good standing.

Labels: ,


| More

posted by bhill at 11:45 AM

 
Monday, January 15, 2007

EIAs in Spotlight

For those of you following the debate over whether an equity-indexed annuity is a security or insurance product, there's an article on the subject in the January issue of Registered Representative magazine.

As we've discussed before, many state securities regulators are classifying an insurance licensed only agent selling equity-indexed annuities ("EIAs") as an unregistered investment advisor if the insurance licensed only agent discusses the general stock market with clients and then receives indirect compensation such as an EIA commissions.

Please contact us if you're insurance only agent interested in registering as an investment advisor.

Labels:


| More

posted by bhill at 11:53 AM

 

 

Turnkey Investment Advisor Registration Service

Starting an RIA?

Utilize our expertise to leverage your time while growing your new business.

Request a Proposal

Annual Investment Advisor Compliance Program

Need help implementing an ongoing and comprehensive compliance program?

Outsource the heavy lifting by partnering with industry experienced professionals.

Request a Proposal

Subscribe to this Feed

Recent Posts
Licensing of Solicitors as Investment Advisor Repr...
NASAA Urges SEC to Exclude from Surprise Audit RIA...
Renewed SEC Scrutiny of Registered Investment Advi...
Join Us for a Webinar: Establishing & Supervising ...
SEC Proposes Ban of Political Contributions by Reg...
Broker-Dealer Trade Group Supports Holding Registe...
Join Our Webinar - Maintaining Required Books & Re...
SEC Files Enforcement Action Against an RIA for Al...
The Adminstration Seeks Fiduciary Duty for B/Ds --...
Proposal for SEC to Study Use Mandatory Arbitratio...

Subjects
ADV Part 2
Advertising
Annual Amendment
Arbitration
Assignment
Best Execution
Books Records
CFP
Code Of Ethics
Compliance Program
Compliance Training
Compliance Violations
Conflict Of Interest
Credit Union
Custody
Customer Complaint
Enforcement
Equity-Indexed Annuities
Fee Audit
Fiduciary
Financial Statements
Form 13F
Form ADV
Form U4
Gifts
Hedge Funds
IAR Licensing
IARD
Insider Trading
Inv Adv Rep
Outside Business Activities
PST
Pensions
Political Contributions
Pooled Investment Vehicle
Power Of Attorney
Privacy
Proxy Voting
REg
Record Keeping
Registration
Regulatory Inspections
Renewals
SAS 70 Audit Report
SEC Inspection
SEC
SRO
Schedule 13G
Series 65
Short Sales
Soft Dollars
Solicitors
Succession Planning
Third-Party Compliance Audit
Trade Allocation
Webinar

Archives
May 2005
June 2005
July 2005
August 2005
September 2005
October 2005
November 2005
December 2005
January 2006
February 2006
March 2006
July 2006
August 2006
September 2006
October 2006
November 2006
December 2006
January 2007
February 2007
March 2007
May 2007
June 2007
July 2007
August 2007
September 2007
October 2007
November 2007
January 2008
February 2008
March 2008
May 2008
June 2008
July 2008
September 2008
October 2008
November 2008
December 2008
January 2009
April 2009
May 2009
June 2009
July 2009
August 2009

 
 
Easy-to-Read Instructions

* RIA Compliance Consultants, Inc. (“RCC”) is not a law firm and does not provide legal services. A compliance consulting relationship with RCC is not provided those legal and professional protections that normally exist under an attorney-client relationship. For more information, please visit our Disclosures webpage.

Home
About RIA Compliance Consultants, Inc.
Our Services
   Investment Advisor Registration Service
  Annual Compliance for New IA
  Code of Ethics
  Customized Compliance Program
  13D, 13G & 13F Filings
Compliance Tips
  Tips for Registering as a State Investment Advisor
  Form ADV Background
  Form ADV Drafting Tips
  SEC Exam Tips
Compliance Webinars
  Upcoming Webinars
  Recorded Webinars
Frequently Asked Questions
   Investment Advisor Registration FAQs
  Series 65 Examination FAQs
  Solicitor Referral Arrangements FAQs
  Form 13F, Schedule 13D & Schedule 13G FAQs
  Schedule H FAQs
  Written Supervisory Procedures
  Codes of Ethics
  Insurance Agents as IAs FAQs
Published Articles
Blog
Contact RIA Compliance Consultants, Inc.
Online Invoice Payments
Newsletter
Speaker Request
Investment Advisor Resources
Search
Disclosures
Site Map
Link to RIA Compliance Consultants, Inc.