Now is the time to start planning for the 2006 renewal season. The NASD recently released its 2006 IARD Annual Renewal Program Calendar. While the 2006 Renewal Bulletin and full instructions have not been released yet, investment advisor firms should refer to the calendar now in order to begin planning for the upcoming renewals. According to the calendar, Preliminary Renewal Statements will be available on November 21 and payment must be submitted no later than December 12. The full amount of the Preliminary Renewal Statement must be paid at that time. Firm and representative licensing changes that take place after November 21 and before the system shutdown date of December 21 will be reflected on the Final Renewal Statement.
We suggest you use the next two months to ensure your firm is properly registered or notice filed in all states. Make sure your client lists are accurate. Has a client moved to a state in which your firm needs to be registered or notice filed? Likewise, is your firm registered or notice filed in states where you no longer have clients? Don’t forget to make sure your advisor representatives are properly registered in all states that require registration. Stay tuned to RIA Compliance Consultants for more information on the 2006 renewals season as it becomes available.
Posted by Bryan Hill