Initial IARD/CRD Fee Waiver for State Registered Firms & IARs Delayed Until January 2007

November 21, 2006

In a blog last month, we informed you of the SEC and NASAA’s intention to waive the initial Web CRD/IARD user fees charged to new investment advisor firms. The initial system fee to license an investment advisor representative (IAR) was also to be reduced from $45 to $30.

According to the original press release, it appeared the initial fee waiver was to go into effect on November 1, 2006 and last through October 31, 2008. As late as Friday, November 17, the NASD had not implemented the new fee waiver. After a call from Jarrod James, Senior Compliance Consultant at RIA Compliance Consultants, the NASD reviewed the matter and has now updated their website and apparently implemented the new change. While the initial fee waiver has now taken effect for SEC firms, state registered firms filing prior to year-end 2006 will be subject to an initial Web CRD/IARD fee of $105. The fee waiver for state registered firms will not go into effect until January 1, 2007. In addition, the initial IAR fee will remain at $45 through the end of the year and then drop to $30 on January 1, 2007.

If you, or your firm, are contemplating investment advisor registration, give us a call today to discuss our turnkey approach to investment advisor registration. We specialize in the registration of start-up investment advisor firms both at the SEC and state levels.

Posted by Bryan Hill
Labels: IARD