Annual Amendment Filings

May 11, 2007

Did your firm file its Form ADV Part 1 Annual Amendment by March 30? If your registered investment advisor firm’s fiscal year end was December 31, the answer to this question should be a definite yes. If your investment advisor firm has not yet completed the Annual Amendment, give us a call today so we can help you complete this important requirement. It is important to note some investment advisor firms make the mistake of filing an “other than Annual Amendment filing” when attempting to fulfill this duty. In order to meet the SEC’s requirement, an “Annual Amendment” must be filed within 90 days after a firm’s fiscal year end. If your investment advisor firm missed the 90 day deadline, the filing should be made as soon as possible.

The requirement to file an Annual Amendment is not limited solely to SEC registered firms. The far majority of state regulatory agencies require state registered investment advisors to also file an Annual Amendment. In addition, most states require a Form ADV Part II and Schedule amendment and, when required, updated financial statements showing proof of compliance with the state’s minimum net worth/net capital requirements.

Again, hopefully everyone reading this notice has completed these important requirements, but if your investment advisor firm has not, please give us a call so we make sure your firm is in full compliance in order to avoid possible disciplinary action.

Posted by Bryan Hill
Labels: Form ADV