Failure to Properly Renew Registration May Result in Adverse Consequences for Investment Advisers

October 29, 2021


Reading time : 3 minutes

Investment adviser firms and investment adviser representatives must maintain active registrations and/or notice filing statuses with applicable jurisdictions/states. Unless properly renewed, all investment adviser firm and investment adviser representative licensing approvals expire December 31 each calendar year. To ensure that investment adviser firms and their investment adviser representatives are properly licensed in all necessary jurisdictions for 2022, renewal fees must be paid through the Investment Adviser Registration Depository (“IARD”) system.

Failure to maintain active registration or failure to properly renew registration by the deadline may be detrimental to an investment adviser firm.  Investment adviser firms and investment adviser representatives that are not properly renewed may become ineligible to conduct business effective January 1, 2022. Additionally, certain regulators may assess fines against those firms or representatives that fail to properly renew.

Annual Amendment ServiceMost jurisdictions participate in the IARD Automatic Failure to Renew Program. If your investment adviser firm or its representatives are registered or notice filed in a jurisdiction that participates in the IARD Automatic Failure to Renew Program, your jurisdiction has authorized FINRA to automatically terminate your investment adviser firm and investment adviser representative registrations on December 31, 2021, if your investment adviser firm’s IARD Renewal Account is not funded by the renewal deadline.

Beginning November 8, 2021, your investment adviser may retrieve its Preliminary Renewal Statement using the IARD/Web CRD system. Your investment adviser’s Preliminary Renewal Statement will reflect the full payment due in your investment adviser firm’s FINRA IARD Renewal Account by December 13, 2021.

If your investment adviser firm needs assistance with the renewal process or determining if it is properly registered, RIA Compliance Consultants can assist you. If you are an existing client of RIA Compliance Consultants, please contact your consultant to discuss how we can assist you. If you have not previously worked with RIA Compliance Consultants, please click here to learn more about our 2022 IARD Renewal and Form ADV Annual Amendment Services contact our business development team at bizdevteam@ria-compliance-consultants.com .

Don’t miss the opportunity to have RIA Compliance Consultants guide you through your renewals to make sure you remain properly registered for 2022, assist you with your Form ADV annual amendment to meet your regulatory obligation. Sign-up now and take advantage of the discount for our 2022 IARD Renewal and Form ADV Annual Amendment services

Click here to purchase IARD Renewal and ADV Annual Amendment Services.

Before you make the online purchase you will be prompted to sign an engagement letter for these services. Please keep in mind that we must receive the retainer payment and executed engagement letter prior to November 30, 2021 to be eligible for the discount on the IARD Renewal and ADV Annual Amendment services.

Disclosure

The information contained in this blog post is general in nature intended for educational purposes only and is not intended to be a comprehensive analysis of this topic. It is not intended to constitute compliance consulting advice or apply to any particular investment adviser firm’s specific situation. Please consult the applicable securities regulator’s rules and published guidance for more details about the topics referenced above.  For more information about the limitations of this blog post and information on our website, please see our Disclosures webpage.

Posted by RCC Admin
Labels: Annual Amendment, IARD, Registration, Renewals, Uncategorized