Note to SEC Registered Investment Advisers Concerning Form ADV Annual Updating Amendments

February 06, 2013

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On February 06, 2013, the U.S. Securities and Exchange Commission (“SEC”) released an important notice concerning Form ADV Annual Updating Amendment for December fiscal year end advisers. According to the notice, those investment advisers registered with the SEC with a fiscal year end of December 31, 2012, are required to file their annual updating amendment within 90 days after their fiscal year end, thus, by March 31, 2013. As March 31, 2013, falls on a Sunday and because the IARD system will be closed on Friday, March 29, 2013, investment advisers with a December 31, 2012, fiscal year end will be allowed to file their annual updating amendments no later than Monday, April 1, 2013. The SEC adds: “Rule 0-4 under the [Investment Advisers Act of 1940] provides that fillings (sic) required to be made through the IARD system on a day that the IARD system is closed will be considered timely filed with the commission if filed through the IARD system no later than the following business day. (see Title 17: Commodity and Securities Exchanges Part 275 – Rule and Regulations, Investment Advisers Act of 1940.)”

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Posted by Bryan Hill
Labels: Annual Amendment, SEC