Tip #3 for an Investment Adviser’s IARD Renewal – Email Alerts from IARD System

November 13, 2019

Your investment adviser firm can create IARD renewal email alerts in E-Bill section of the IARD account.  The email alerts sent to your investment adviser firm can include notifications about renewal statements, deadlines, or confirmation that your investment adviser firm has paid its renewals in full.  The Super Account Administrator (“SAA”) for your investment adviser firm’s IARD account does not automatically receive all the available alerts; the SAA must subscribe for the various email alerts.  For more details about the features of the E-Bill section of your investment adviser firm’s IARD account, visit E-Bill Frequently Asked Questions (FAQ) at https://www.finra.org/filing-reporting/e-bill/faq#alerts .

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Tip #2 for an Investment Adviser’s IARD Renewal

November 12, 2019

As you review your investment adviser firm’s Preliminary Renewal Statement from the IARD system, your investment adviser firm should consider whether its investment adviser representatives should be registered as an investment adviser representative in a particular state.

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Tip #1 for an Investment Adviser’s IARD Renewal

November 11, 2019

As you review your investment adviser firm’s Preliminary Renewal Statement from the IARD system, you should consider whether your investment adviser firm desires to terminate a firm-level investment adviser state registration or state notice filing so it can receive a regulatory fee refund.

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Upcoming Webinar – Investment Adviser Fiduciary Duty

November 11, 2019

Join RCC President, Bryan Hill, on Thursday, November 14 at 12:00 PM CT as he expertly presents on an Investment Adviser’s Fiduciary Duty. Under federal law, an investment adviser is a fiduciary and must act in the best interest of its clients at all times. This fiduciary duty requires an investment adviser to provide advice that is in the best interest of the client, based on the client’s objectives, and eliminate or make full and fair disclosure of all conflicts of interest that might incline and investment adviser – consciously or unconsciously – to render advice which is not disinterested.

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RIA Compliance Consultants Published a New Sample Form – Acknowledgement that a Representative’s Role as a Non-Profit Board Member Is Outside of the RIA

November 08, 2019

To the extent that your investment adviser firm has a supervised person who has an outside business activity which involves serving on the board of directors of a non-profit entity, there is a risk that the non-profit entity could be under the belief that the supervised person’s activity on the board of directors is being supervised by the investment adviser firm.  Consequently, RIA Compliance Consultants has released a new sample form that allows an investment adviser firm to document that the non-profit is not an investment adviser client and supervised person’s role as a member of the non-profit’s board of directors is being performed in his or her personal capacity and not supervised by the investment adviser firm.

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Preliminary Renewal Statement Available Monday

November 07, 2019

Starting Monday, November 11, 2019, a registered investment adviser firm can access, via its IARD account, its Preliminary Renewal Statement for 2020 renewals. The Preliminary Renewal Statement must be paid, in full, by Monday, December 16, 2019. Depending on your method of payment, it may take at least two days for a payment to post to the IARD account. Because of this, your firm’s payment should arrive at FINRA no later than Wednesday, December 11, 2019, to ensure that funds are posted to your firm’s IARD account by December 16, 2019.

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Investment Advisers Should Begin Preparations for 2020 Renewals

October 29, 2019

As annual renewal season rapidly approaches, investment advisers should be proactive and begin preparing for renewals by reviewing to make sure the investment adviser is properly registered or notice filed, as applicable, and that its investment adviser representatives are properly licensed with all required state securities regulators. The IARD Renewal Program serves to facilitate the annual renewal of investment advisers and their investment adviser representatives’ registrations with the appropriate state securities regulators. Although, an investment adviser’s registration, notice filing, and licensing requirements are some things that should be reviewed and monitored on an ongoing basis, during the annual renewal process all investment advisers should review their existing registration or notice filing status and each investment adviser representative’s licensing status to confirm that the investment adviser and its representatives are properly registered, notice filed, or licensed (as applicable). Additionally, all state registered investment advisers should also review the state requirements to see if branch office registration is required and, if it is, investment advisers should confirm that all branch office locations have been properly registered.

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National Compliance Officer Day – Not All Heroes Wear Capes

September 27, 2019

Yesterday was the fourth annual Compliance Officer Day, a day to recognize and appreciate the work done by compliance professionals. RIA Compliance Consultants recognizes the 24/7 role demanded of compliance officers and personnel. We would like to thank you for your tireless work at building ethical cultures and helping your colleagues do the right thing. In appreciation to your dedication to compliance, we are offering a 25% discount on all of our Sample Compliance Forms and Compliance Training Webinars. Click here to shop on our online store. The 25% discount will be applied automatically at checkout.

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