Category Archives: Form U4
Pursuant to Release 2010.2 published on June 28, 2010 by the Investment Adviser Registration Depository (“IARD”), the Investment Adviser Public Disclosure (“IAPD) database now allows users to search for investment adviser representatives. Prior to the release, investment advisers and investment adviser representatives submitted registration and licensing information to the IARD; however, only information for investment [...]
Registered investment adviser firms must file amended Form U4s for all their investment adviser representatives to provide answers to the new regulatory action disclosure questions. The North American Securities Administrators Association (“NASAA”) has published notice clarifying that the new questions on the FINRA Form U4 and the deadline of November 13, 2009 applies to investment [...]
Posted by Bryan Hill
Thursday, October 29, 2009
The U.S. Securities and Exchange Commission (“SEC”) has approved FINRA’s proposed changes to Form U4 (Uniform Application for Securities Industry Registration or Transfer) and Form U5 (Uniform Termination Notice for Securities Industry Registration), and these changes may require an investment adviser representative to update his or her Form U4.
The changes to disclosure questions on [...]
In the course of conducting investment advisory business, no matter how diligent you are, at some time a customer complaint may arise. It is typical that downturns in the securities markets lead to an increase in customer complaints. What is the proper course of action for you and your registered investment adviser to take if [...]
Posted by Bryan Hill
Wednesday, October 22, 2008
The Financial Industry Regulatory Authority (FINRA) has proposed revisions that would require that allegations of sales practice violations made in arbitration claims and civil lawsuits against registered persons who are not named as parties in those proceedings be reported as customer complaints. Current reporting requirements do not require a report to the Form U4 (Uniform [...]
Do you serve as both a registered representative of a broker-dealer and an investment advisor representative of an investment advisory firm that’s independent of the broker-dealer?
If so, you should take this opportunity at the end of the year to verify that you are properly registered as an investment advisor representative with the applicable [...]
Posted by Bryan Hill
Sunday, November 26, 2006
The end of the year is an excellent time to remind investment advisor representatives (IARs) of the duty to update their Form U4. In addition, investment advisor firms should be, at least annually, reminding IARs of their ongoing duty to update the U4. According to the U4 instructions, “an individual is under a [...]
Posted by Bryan Hill
Tuesday, October 31, 2006
The establishment of sound policies and procedures aimed at monitoring the outside activities of its supervised persons (i.e. the advisor’s officers, directors, partners, investment advisor representatives, and employees) should be part of any firm’s written compliance programs. It is suggested that some type of “outside business activities form” be created and all supervised persons [...]
Posted by Bryan Hill
Thursday, October 19, 2006
The California Department of Corporations requires a Form U4 for each officer, director, partner and each person who owns 10% or more of an investment advisor firm registered directly with the State of California. Typically, state regulators require a Form U4 for only those individuals that serve as an investment advisor representative of the [...]
Posted by Bryan Hill
Thursday, September 28, 2006
|
